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TSX rises as higher oil prices lift energy stocks

Published 2019-04-17, 09:58 a/m
© Reuters.  TSX rises as higher oil prices lift energy stocks

April 17 (Reuters) - Canada's main stock index rose modestly on Wednesday, after higher oil prices lifted the energy sector.

* At 9:34 a.m. ET (1334 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 18.9 points, or 0.11 percent, at 16,521.1.

* Five of the index's 11 major sectors were higher, led by a 0.5 percent rise in the energy sector .SPTTEN .

* U.S. crude CLc1 prices were up 0.4 percent, while Brent crude LCOc1 added 0.2 percent.

* Brent hit a 2019 high above $72 a barrel, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signalled firm demand, while global supply remained tight. O/R

* The financials sector .SPTTFS gained 0.1 percent. The industrials sector .GSPTTIN rose 0.2 percent.

* Canada's annual inflation rate edged up to 1.9 percent in March from 1.5 percent in February as the downward pressure from gasoline prices lessened, easing market expectations that the Bank of Canada would cut interest rates by year end. On the TSX, 160 issues were higher, while 73 issues declined for a 2.19-to-1 ratio favouring gainers, with 10.20 million shares traded.

* The largest percentage gainers on the TSX were Hexo Corp HEXO.TO and First Quantum Minerals FM.TO , rising 4.5 percent and 3.3 percent, respectively.

* Aphria Inc APHA.TO fell 4.7 percent, the most on the TSX, after Cormark Securities cut its price target on the cannabis producer.

* The second-biggest decliner was Western Forest WEF.TO , down 2.6 percent, after TD Securities downgraded the company's stock to "hold" from "buy".

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* The most heavily traded shares by volume were Prometic Life Sciences PLI.TO , Stornoway Diamond Corp SWY.TO and Aphria.

* The TSX posted one new 52-week high and one new low.

* Across all Canadian issues, there were 17 new 52-week highs and seven new lows, with total volume of 20.70 million shares.

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