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TSX gains as Poloz assures economy in good shape

Published 2019-01-23, 10:21 a/m
Updated 2019-01-23, 10:30 a/m
© Reuters.  TSX gains as Poloz assures economy in good shape

Jan 23 (Reuters) - Canada's main stock index rose on Wednesday after Bank of Canada Governor Stephen Poloz assured the Canadian economy is in good shape.

* At 9:35 a.m. ET (14:35 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 57.37 points, or 0.38 percent, at 15,291.13.

* Poloz said low oil prices are delivering "a material shock" that would cut economic growth this year and reiterated that the pace of future interest rate hikes would be heavily dependent on economic data. Latest data showed Canadian retail sales fell 0.9 percent in November from C$50.39 billion ($37.85 billion)in October. Ten of the index's 11 major sectors were higher, led by a 1.9 percent gain in the consumer discretionary index .GSPTTCD .

* The energy sector .SPTTEN climbed 0.8 percent as U.S. crude CLc1 prices were up 0.3 percent a barrel, while Brent crude LCOc1 added 0.4 percent. O/R

* The financials sector .SPTTFS gained 0.2 percent and industrials .GSPTTIN rose 0.2 percent.

* The only loser was the materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, with a 0.1 percent loss. GOL/ MET/L

* On the TSX, 157 issues were higher, while 65 issues declined for a 2.42-to-1 ratio favoring gainers, with 10.10 million shares traded.

* The largest percentage gainer on the TSX was Restaurant Brands International Inc QSR.TO , which jumped 6.9 percent after naming Jose Cil, the current head of its Burger King unit, as its chief executive officer. TransAlta Corp TA.TO , which rose 6.0 percent, was the second biggest advancer.

* Pretium Resources Inc PVG.TO fell 2.8 percent, the most on the TSX. The second biggest decliner was Centerra Gold Inc CG.TO , which fell 2.3 percent.

* The most heavily traded shares by volume were Royal Nickel RNX.TO , Aurora Cannabis ACB.TO and Aphria Inc APHA.TO .

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

* Across all Canadian issues, there were four new 52-week highs and one new low, with total volume of 17.10 million shares.

Latest comments

record debts were accumulated ALSO because of government policies. Did they have the foresight to understand the long term repercussions of allowing debt to stack up. are they taking any responsibility for the outcome of their own past policy? no. it seems like "sink or swim". because they decided to make a u turn...
Such good shape than why is he is so afraid to increase interest rates?
Such good shape than why is he is so afraid to increase interest rates?
I guess the record debt level that the every day citizen has accumulated doesn't matter.
I agree.... however I think this talk about potentially increasing (even though I really doubt we will see 2 increases in 2019) is to deter more people from going into debt further. Although I doubt many Canadians will want to cut back
record debts were accumulated ALSO because of government policies. Did they have the foresight to understand the long term repercussions of allowing debt to stack up. are they taking any responsibility for the outcome of their own past policy? no. it seems like "sink or swim". because they decided to make a u turn...
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