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CANADA STOCKS-TSX rises as higher oil prices boost energy stocks

Published 2018-06-07, 10:18 a/m
© Reuters.  CANADA STOCKS-TSX rises as higher oil prices boost energy stocks
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June 7 (Reuters) - Canada's main stock index rose on Thursday, led by gains in the energy sector, which benefited from rising oil prices.

* At 9:55 a.m. ET (1355 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 28.83 points, or 0.18 percent, at 16,212.76.

* Oil prices rose on concerns about a plunge in exports from Venezuela, helping the energy sector .SPTTEN climb 0.9 percent.

* Four of the index's 11 major sectors were higher, led by the energy group.

* U.S. crude CLc1 prices were up 0.9 percent, while Brent crude LCOc1 added 1 percent. O/R

* Biggest boosts to the energy group were shares of Suncor Energy Inc SU.TO , rising 1.5 percent and Canadian Natural Resources Ltd CNQ.TO , which gained 0.8 percent.

* The financial sector .SPTTFS climbed 0.2 percent and was the second biggest boost to the main index.

* Toronto-Dominion Bank TD.TO up 0.5 percent and Royal Bank Of Canada RY.TO rose 0.4 percent, were the leading gainers among the sector.

* The Canadian dollar was little changed against its U.S. counterpart as voters in Ontario headed to the polls and ahead of an assessment by the Bank of Canada of risks to the stability of the financial system. A Reuters poll showed that the Canadian dollar will strengthen over the coming year as economic growth prompts the Bank of Canada to raise interest rates again, but strategists see risk to their bullish forecasts from NAFTA talks. U.S. House Speaker Paul Ryan was doubtful of a renegotiated NAFTA trade deal on Wednesday. On the TSX, 141 issues were higher, while 88 issues declined for a 1.60-to-1 ratio favouring gainers, with 11.20 million shares traded.

* The largest percentage gainer on the TSX was Canadian Western Bank CWB.TO , which jumped 2.7 percent after reporting second-quarter revenue above consensus. Dollarama Inc DOL.TO fell 4.9 percent, the most on the TSX, after reporting first-quarter revenue and same-store sales that misses estimates. The second biggest decliner on the TSX was Aphria Inc APH.TO , down 4.8 percent The most heavily traded shares by volume were cannabis firms, Aurora Cannabis ACB.TO , Aphria Inc and Canopy Growth Co WEED.TO .

* The TSX posted 13 new 52-week highs and no new lows.

* Across all Canadian issues there were 30 new 52-week highs and one new low, with total volume of 16.45 million shares.

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