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TSX rises as higher oil prices boost energy shares

Published 2019-06-11, 10:03 a/m
© Reuters.  TSX rises as higher oil prices boost energy shares

June 11 (Reuters) - Canada's main stock index rose on Tuesday, as higher oil prices aided the energy sector, against the backdrop of optimism in global financial markets over signs of stimulus in the Chinese economy.

* At 9:37 a.m. ET (1337 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 59.24 points, or 0.37%, at 16,275.5.

* Nine of the index's 11 major sectors were higher, led by the energy sector .SPTTEN which climbed 0.9%.

* Oil rose further above $62 a barrel on Tuesday as firmer equities and expectations that OPEC and its allies will keep withholding supply countered concern about slowing economies and demand. O/R

* The U.S. crude CLc1 prices were up 0.8%, while Brent crude LCOc1 added 0.4%.

* The financials sector .SPTTFS gained 0.4%.

* Also helping the main index was a 6% rise in shares of SNC-Lavalin Group Inc SNC.TO , after the company named Chief Operating Officer Ian Edwards interim president and chief executive officer. On the TSX, 163 issues were higher, while 65 issues declined for a 2.51-to-1 ratio favouring gainers, with 21.14 million shares traded.

* The largest percentage gainers on the TSX were shares of BRP Inc DOO.TO , which jumped 8.8%, closely followed by those of SNC-Lavalin.

* Allied Properties Real Estate Investment AP_u.TO fell 2.9%, the most on the TSX, followed by shares of Endeavour Mining EDV.TO , down 1.5%.

* The most heavily traded shares by volume were Husky Energy HSE.TO , BCE Inc BCE.TO and Genenews Limited GEN.TO .

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* The TSX posted five new 52-week highs and three new lows.

* Across all Canadian issues there were 12 new 52-week highs and five new lows, with total volume of 29.28 million shares.

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