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TSX rises as higher oil lifts energy stocks

Published 2019-04-10, 10:10 a/m
© Reuters.  TSX rises as higher oil lifts energy stocks
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April 10 (Reuters) - Canada's main stock index rose on Wednesday, led by gains in energy stocks after oil prices climbed on tighter supplies.

* At 9:48 a.m. ET (1348 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 49.6 points, or 0.3 percent, at 16,386.05.

* Nine of the index's 11 major sectors were higher.

* The energy sector .SPTTEN rose 0.7 percent, as U.S. crude CLc1 prices were up 0.7 percent, while Brent crude LCOc1 added 0.5 percent. O/R

* Crude oil prices rose back towards five-month highs hit the previous day, as OPEC production cuts and U.S. sanctions on Iran and Venezuela continued to tighten supply, though economic worries increased.

* Amid growing global trade tension, Canada is looking at ways to boost the effectiveness of its retaliatory tariffs against the United States, Foreign Minister Chrystia Freeland said on Tuesday. On the TSX, 183 issues were higher, while 48 issues declined for a 3.81-to-1 ratio favouring gainers, with 17.86 million shares traded.

* The largest percentage gainers on the TSX were Cogeco Communications CCA.TO , which jumped 5.7 percent followed by Meg Energy Corp MEG.TO , which rose 4.1 percent.

* Metro Inc MRU.TO fell 1.6 percent, the most on the TSX, followed by Home Capital Group HCG.TO , down 1.2 percent.

* The most heavily traded shares by volume were Harte Gold Corp HRT.TO , Crescent Point CPG.TO and Stornoway Diamond SWY.TO .

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

* Across all Canadian issues there were 19 new 52-week highs and two new lows, with total volume of 31.27 million shares.

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