TSX edges higher as energy stocks track oil gains

April 18 (Reuters) - Canada's main stock index edged higher on Thursday, supported by energy stocks, although global growth concerns and a drop in shares of Rogers Communications kept a lid on further gains.

* At 9:33 a.m. ET (1333 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was up 21.67 points, or 0.13 percent, at 16,565.91.

* The main index is now on track to extend gains on to a fourth straight week.

* Ten of the index's 11 major sectors were higher, led by the energy sector, which climbed 0.2 percent.

* U.S. crude prices were up 0.2 percent, while Brent crude added 0.4 percent.

* Oil prices rose slightly on Thursday, boosted by a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies and U.S. sanctions on Venezuela and Iran.

* Rogers Communications Inc tumbled 5.2 percent, the most on the TSX, after the company reported a quarterly profit that missed estimates on lower revenue from its media business.

* Rogers dragged down the TSX communications services sector , which fell 1.3 percent and was the only sector trading in the red.

* Euro zone businesses started this quarter on the back foot, with growth unexpectedly slowing again while.

* The sluggish data helped gold prices rise, which lifted the materials sector that added 0.1 percent.

* The financials sector gained 0.2 percent, while the industrials sector rose 0.3 percent.

* On the TSX, 126 issues were higher, while 93 issues declined for a 1.35-to-1 ratio favouring gainers, with 9.29 million shares traded.

* The largest percentage gainer on the TSX was Canopy Growth Co, which jumped 8.6 percent after the company said it would buy U.S.-based pot firm Acreage Holdings in a deal valued at $3.4 billion.

* The most heavily traded shares by volume were Hexo Corp , Aurora Cannabis and Canopy Growth.

* The TSX posted four new 52-week highs and two new lows.

* Across all Canadian issues, there were 20 new 52-week highs and five new lows, with total volume of 16.80 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)

First Published: 2019-04-18 15:34:24
Updated 2019-04-18 16:00:03


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