TORONTO (Reuters) - Canada’s main stock index rose on Wednesday to a record high as a recent rally in commodity prices boosted the energy and materials sectors, while healthcare gained more than 6 percent as shares of marijuana companies jumped.
- The Toronto Stock Exchange’s S&P/TSX composite index ended up 37.86 points, or 0.23 percent, at 16,203.13, a record closing high.
- Energy shares climbed 1.6 percent, with Suncor Energy Inc up 2.5 percent at C$45.82.
- The price of U.S. crude oil settled 0.6 percent lower at $59.64 a barrel. But it had touched a 2-1/2-year high in the previous session when the TSX was closed for the Boxing Day holiday. [O/R]
- The materials group, which includes precious and base metals miners and fertilizer companies, added 0.9 percent.
- Teck Resources Ltd, which exports steelmaking coal and mines metals, including copper, gained 3.1 percent to C$33.33.
- Copper prices advanced 1.3 percent to $7,219 a tonne. [MET/L]
- Five of the TSX’s 10 main groups ended higher.
- Shares of marijuana companies rose after Canadian regulators rejected Aurora Cannabis Inc’s request to shorten the minimum deposit period to 35 days from 105 days for the hostile takeover of CanniMed Therapeutics Inc.
- Aurora Cannabis gained 11.1 percent and CanniMed Therapeutics rose nearly 4 percent, while Canopy Growth Co was the largest percentage gainer on the TSX. It surged 20.1 percent to C$27.77.
- The largest decliner on the index was Centerra Gold, which plunged 10.3 percent to C$6.50 after the company said mill processing operations at the Mount Milligan Mine in British Columbia have been temporarily suspended due to lack of sufficient water resources.
- The heavyweight financials group fell 0.3 percent and technology shares declined 0.6 percent.
- Advancing issues outnumbered declining ones on the TSX by 143 to 96, for a 1.49-to-1 ratio on the upside.
- The index was posting nine new 52-week highs and one new low.
Reporting by Fergal Smith; Editing by Bill Trott and Meredith Mazzilli