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CANADA STOCKS-TSX jumps in broad-based rally led by energy stocks; Bank Of Canada holds rates

Published 2018-12-05, 10:34 a/m
Updated 2018-12-05, 10:40 a/m
© Reuters.  CANADA STOCKS-TSX jumps in broad-based rally led by energy stocks; Bank Of Canada holds rates

Dec 5 (Reuters) - Canada's main stock index rose on Wednesday in a broad-based rally led by shares of energy companies as oil recouped some of its early losses, while the Canadian dollar weakened after the Bank of Canada held borrowing costs steady in an interest rate meeting.

* At 10:28 a.m. ET (15:28 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 184.24 points, or 1.2 percent, at 15,063.

* All of the index's 11 major sectors were higher, led by the energy sector .SPTTEN , which climbed 2.3 percent as oil prices rose before a meeting of the world's biggest exporters to discuss cutting output to help shore up prices and curb excess supply. O/R

* Canadian energy companies also cheered Alberta's decision to mandate output cuts to reduce a supply glut.

* The Canadian dollar edged lower after the Bank of Canada held rates steady and said there might be more room for non-inflationary growth. The materials sector .GSPTTMT , which includes precious and base metals miners, added 2.09 percent despite gold prices edging lower, a day after hitting their highest level in more than five weeks.

* On the TSX, 180 issues were higher, while 60 issues declined for a 3.00-to-1 ratio favoring gainers, with 24.48 million shares traded.

* The largest percentage gainers on the TSX were Stars Group Inc TSGI.TO , which jumped 5.5 percent, and Trican Well Service Ltd TCW.TO , which rose 5.0 percent.

* Shares of Peyto Exploration & Development Corp PEY.TO fell the most on the index.

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* The most heavily traded shares by volume were Aphria Inc APHA.TO , up 1.2 percent; Aurora Cannabis Inc ACB.TO , down 2.4 percent and Bombardier B BBDb.TO , up 3.3 percent.

* The TSX posted two new 52-week highs and 11 new lows.

* Across all Canadian issues there were 10 new 52-week highs and 43 new lows, with total volume of 54.58 million shares.

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