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TSX rises as energy gains, set for first weekly rise in 3 weeks

Reuters

Dec 28 () - Canada's main stock index rose on Friday, helped by gains in the energy sector, after ending the previous session with its biggest percentage rise in nearly three years.

* At 9:37 a.m. ET (1437 GMT), the Toronto Stock Exchange'sS&P/TSX Composite index was up 64.32 points, or 0.45 percent, at 14,229.53.

* The main index was set to post its first weekly gain after three consecutive weeks of declines.

* Oil prices rose, with U.S. crude up 0.9 percent and Brent crude 0.3 percent higher.

* The healthcare sector was lifted by a 9.1 percent rise in shares of Aphria Inc.

* U.S. cannabis retailer Green Growth Brands Ltd said on Thursday it would make a hostile all-stock bid for Aphria in a deal valuing it at C$2.8 billion ($2.06 billion).

* Aphria said on Friday the bid undervalued the company.

* The financials sector gained 0.4 percent. The industrials sector rose 0.7 percent.

* The materials sector added 0.1 percent, as gold prices held near six-month highs and as copper was poised for its first weekly gain in five weeks.

* On the TSX, 206 issues were higher, while 30 issues declined for a 6.87-to-1 ratio favoring gainers, with 11.15 million shares traded.

* Top percentage gainers on the TSX were Aphria and miner Hudbay Minerals Inc, which rose 3.0 percent.

* First Majestic Silver Corp fell 2.5 percent, the most on the TSX, after announcing an equity offering

* The most heavily traded shares by volume were Aphria, Aurora Cannabis and Bombardier.

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

* Across all Canadian issues there were three new 52-week highs and nine new lows, with total volume of 18.78 million shares.


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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