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
* 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
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju
First Published: 2019-04-18 15:34:24
Updated 2019-04-18 16:00:03
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