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CANADA STOCKS-TSX posts one-week high as financials gain, energy slides

Published 2017-11-20, 04:52 p/m
© Reuters.  CANADA STOCKS-TSX posts one-week high as financials gain, energy slides
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TORONTO, Nov 20 (Reuters) - Canada's benchmark stock index edged up to a one-week high on Monday as financial and consumer discretionary shares gained ground, while energy and mining stocks were pressured by lower commodity prices.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed up 5.83 points, or 0.04 percent, at 16,004.40, its highest close since Nov. 13.

* The financials group, which contributes more than a third to the index's overall weight, rose 0.2 percent, helped by gains for some of the country's major banks as bond yields rose.

* Canada's 10-year yield climbed 2.3 basis points to 1.960 percent. Higher bond yields increase net interest margins of banks.

* The largest percentage gainer on the TSX was Home Capital Group Inc HCG.TO , which rallied 7.0 percent to C$16.77. Last week, some analysts raised their target price on the stock after the mortgage lender reported third-quarter results.

* The consumer discretionary group rose nearly 1 percent, with Dollarama Inc DOL.TO advancing 1.5 percent to C$153.64.

* Seven of the index's 10 main groups ended higher.

* The energy group, which accounts for almost one-fifth of the index's weight, retreated 1.8 percent as oil prices fell.

* U.S. crude CLc1 prices settled 0.8 percent lower at $56.09 a barrel, extending recent weakness ahead of a meeting next week of the Organization of the Petroleum Exporting Countries. Canadian Natural Resources Ltd CNQ.TO lost 2.25 percent to C$43.53 and Cenovus Energy Inc CVE.TO fell 3.78 percent to C$12.49.

* TransCanada Corp TRP.TO rose 1.6 percent to C$63.51 after Nebraska regulators approved a route through the state for the company's Keystone XL pipeline.

* The materials group, which includes precious and base metals miners and fertilizer companies, fell 0.8 percent.

* Gold futures GCc1 fell 1.5 percent to $1,275.9 an ounce, pressured by a stronger U.S. dollar. GOL/

* The TSX composite index lost ground last week, breaking a nine-week winning streak that had pushed it to an all-time high.

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