US Markets

TSX higher on energy boost, hopes of easing trade tensions

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index rose on Wednesday, as energy shares tracked gains in oil prices, while hopes of a resolution to the U.S.-China trade war also buoyed sentiment.

Sept 11 (Reuters) - Canada's main stock index rose on Wednesday, as energy shares tracked gains in oil prices, while hopes of a resolution to the U.S.-China trade war also buoyed sentiment.

* At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 23.46 points, or 0.14%, at 16,560.8.

* Seven of the index's 11 major sectors were higher, led by the energy sector .SPTTEN which climbed 1%.

* Oil prices rose after a reported sharp drop in U.S. crude stocks and OPEC member Iraq said the producer group would discuss deepening output cuts amid ongoing demand concerns. O/R

* Shares of Baytex Energy BTE.TO, MEG Energy Corp MEG.TO and Encana Corp ECA.TO led gains on the main index.

* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.2% as gold futures GCc1 edged higher. GOL/MET/L

* On the TSX, 128 issues were higher, while 101 issues declined for a 1.27-to-1 ratio favouring gainers, with 14.25 million shares traded.

* The largest percentage gainer on the TSX were shares of SNC Lavalin SNC.TO, which jumped 6.6% followed by shares of OceanaGold Corp OGC.TO, which rose 3.2%.

* Cargojet CJT.TO fell 2.2%, the most on the TSX, followed by shares of TFI International Inc TFII.TO, down 1.6%.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO, Crescent Point CPG.TO and Bombardier BBDb.TO.

* The TSX posted two new 52-week highs and no new low.

* Across all Canadian issues there were four new 52-week highs and two new lows, with total volume of 22.75 million shares.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)

((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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