November 16, 2017 / 12:30 PM / 10 months ago

TSX breaks six-day losing streak as banks rise, energy stocks lag

TORONTO (Reuters) - Canada’s main stock index broke a six-day losing streak on Thursday, helped by gains among its biggest banking stocks as bond yields rose, while continued weakness in oil prices weighed on its energy companies.

The Toronto Stock Exchange sign is seen in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

* The Toronto Stock Exchange’s S&P/TSX composite index ended the session up 56.89 points, or 0.36 percent, at 15,935.37.

* It had fallen 1.6 percent prior to Thursday’s session since closing at an all-time high of 16,131.79 on Nov. 7.

* The energy group retreated 0.7 percent, with Seven Generations Energy Ltd falling 9.2 percent to C$16.58 after announcing its capital investment plans for 2018. Suncor Energy Inc lost 0.8 percent to C$45.02 as oil prices extended their falls on worries about U.S. oversupply.

* The financials group, which accounts for more than a third of the index’s weight, gained 0.7 percent as bond yields in both Canada and the United States moved higher. Bank of Nova Scotia rose 0.9 percent to C$83.99 and Canadian Imperial Bank of Commerce added 1.2 percent to C$114.18.

* Shares in Shopify Inc rose 6 percent to C$132.51 after the commerce software company said it had reached a deal with United Parcel Service Inc to provide its U.S. member merchants with discounted shipping rates.

* Among the most active Canadian stocks by volume were Aurora Cannabis Inc, down 13.2 percent to $5.40 and Canopy Growth Corp, down 6.5 percent to $17.26.

* Canopy Growth said late on Wednesday that it was investing in fellow marijuana producer TerrAscend Corp. Aurora said it had arranged a $100 million financing.

Reporting by Alastair Sharp; Editing by Susan Thomas and Lisa Shumaker

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