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TSX rises as bank gains outweigh losses in mining shares

Published 2019-03-28, 10:24 a/m
© Reuters.  TSX rises as bank gains outweigh losses in mining shares

March 28 (Reuters) - Canada's main stock index edged higher on Thursday, as gains in financial sector countered losses in mining shares, which took a hit from a drop in prices of precious metals.

* At 10:00 a.m. ET (14:00 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 18.23 points, or 0.11 percent, at 16,150.76.

* CannTrust Holdings Inc TRST.TO declined 12 percent after medical marijuana producer reported wider than expected net loss in fourth quarter.

* Its shares pulled the healthcare sector .GSPTTHC down 1.7 percent, the most among 11 major sectors.

* The heavyweight financials sector .SPTTFS marginally gained 0.1 percent, while the industrials sector .GSPTTIN rose 0.4 percent.

* Among the biggest laggards on the main index were materials sector .GSPTTMT , which shed 0.8 percent and energy stocks .SPTTEN , down 0.3 percent.

* Gold futures GCc1 fell 1.3 percent to $1,293.3 an ounce, while Silver XAG= dropped 1.4 percent to $15.06 an ounce. GOL/ MET/L

* Meanwhile, U.S. crude CLc1 prices were down 1.2 percent per barrel, while Brent crude LCOc1 lost 1.3 percent as U.S. President Donald Trump called for the Organization of the Petroleum Exporting Countries to boost crude production to lower the price of the commodity. O/R

* On the TSX, 128 issues were higher, while 110 issues declined for a 1.16-to-1 ratio favouring gainers, with traded volume touching 10.65 million shares.

* The largest percentage gainers on the TSX were Canada Goose Holdings Inc GOOS.TO , which rose 3.5 percent and Parkland Fuel Corp PKI.TO , which gained 2.2 percent.

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* CannTrust fell the most on the TSX and the second biggest decliner was First Majestic Silver Corp FR.TO , down 4.1 percent.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Canntrust and Espial Group ESP.TO .

* The TSX posted 10 new 52-week highs and one new low.

* Across all Canadian issues, there were 27 new 52-week highs and three new lows, with total traded volume touching 19.65 million shares.

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