CANADA STOCKS-TSX posts 2-month high as energy, lumber shares rally

Tue Apr 25, 2017 4:32pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds portfolio manager quotes and updates prices)

* TSX closes up 32.73 points, or 0.21 percent, at 15,745.19

* Index posts its highest close since Feb. 23

* Seven of the TSX's 10 main groups end higher

* West Fraser Timber shares close up 8.8 percent

By Fergal Smith

TORONTO, April 25 (Reuters) - Canada's main stock index notched a two-month high on Tuesday, led by gains for heavyweight financial and energy stocks, while shares of lumber companies rallied after new U.S. import duties on the product came out lower than some investors had expected.

The United States said it will impose preliminary anti-subsidy duties averaging 20 percent on imports of Canadian softwood lumber, escalating a long-running trade dispute between the two neighbors.

RBC analysts said the rates set were at the low end of their 20 percent to 30 percent expectation, while top Canadian officials said the country will fight back against the tariffs and win again.   Continued...