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CANADA STOCKS-TSX regains ground as U.S.-China trade worries ease

Published 2018-08-16, 10:30 a/m
Updated 2018-08-16, 10:40 a/m
© Reuters.  CANADA STOCKS-TSX regains ground as U.S.-China trade worries ease

By Shreyashi Sanyal

Aug 16 (Reuters) - Canada's main stock index rose on Thursday from over two-month low in the previous session as trade worries eased after China said it would hold talks with Washington.

* At 9:38 a.m. ET (1338 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 115.38 points, or 0.71 percent, at 16,263.88.

* A Chinese delegation will meet U.S. representatives in Washington later this month, offering a glimmer of hope for progress in resolving a conflict that has set world financial markets on edge. Firming lira also added to sentiment after Turkish finance minister assured international investors that the country would survive its currency crisis, insisting that Turkey's banks were healthy and strong. All but one of the index's 11 major sectors were higher, boosted by broad-based gains.

* The energy sector .SPTTEN climbed 1.1 percent as oil rose on steadying global markets.

* U.S. crude CLc1 prices gained 0.2 percent, while Brent crude LCOc1 added 0.3 percent. O/R

* The financials sector .SPTTFS gained 0.5 percent and the industrials sector .GSPTTIN 0.8 percent.

* The materials sector .GSPTTMT added 1.5 percent as base metal prices bounced back after a broad selloff and as gold rose on a declining dollar.

* Economic data showed Canadian factory sales grew by 1.1 percent in June due to strength in petroleum and coal industries. Another set of data showed the country added 11,600 jobs in July, driven by a pick-up in hiring in the leisure and hospitality. On the TSX, 216 issues were higher, while 22 issues declined for a 9.82-to-1 ratio favouring gainers, with 12.94 million shares traded.

* Top percentage gainers on the TSX were shares of miners, First Majestic Silver FR.TO , which added 5 percent and B2gold Corp BTO.TO , which rose 3.9 percent.

* Shares of Interfor Corpora IFP.TO declined 1.3 percent and was top loser on the TSX, followed by shares of Lucara Diamond LUC.TO , which fell 0.9 percent.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Argex Titanm Inc RGX.TO and Canopy Growth Co WEED.TO .

* The TSX posted four new 52-week highs and one new low.

* Across all Canadian issues there were 12 new 52-week highs and 16 new lows, with total volume of 23.00 million shares.

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