January 11, 2018 / 12:34 PM / 8 months ago

TSX up as resource stock gains offset pot pullback

TORONTO (Reuters) - Canada’s main stock index rose on Thursday as gains for energy companies and some miners offset a pullback in marijuana producers and a fall in Shaw Communications Inc after its quarterly earnings disappointed.

FILE PHOTO - A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, Ontario, Canada on June 23, 2014. REUTERS/Mark Blinch/File Photo

- The Toronto Stock Exchange’s S&P/TSX composite index finished up 38.99 points, or 0.24 percent, at 16,286.94.

- Half of its 10 main sectors were in positive territory and advancing issues and decliners were evenly balanced overall.

- The energy group climbed 1.4 percent, even as crude oil prices retreated from big gains, with Cenovus Energy Inc up 4.4 percent at C$13.69. Tourmaline Oil Corp gained 5.7 percent to C$21.96 after providing a business update.

- The most influential weights on the index included Shaw Communications, which ended down 2.8 percent to C$27.16 after reporting quarterly earnings that missed expectations.

- Marijuana producers, a volatile but broadly rising sector, also weighed, with Canopy Growth Corp slumping 10.4 percent to C$37.56 and Aphria Inc down 9 percent at C$20.55.

- The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent, with Nutrien Ltd gaining 2.3 percent to C$66.63.

- Alamos Gold fell 6.9 percent to C$7.39 while Yamana Gold Inc rose 4.8 percent to C$4.19 after each miner provided a business update to investors.

Reporting by Alastair Sharp; Editing by Susan Thomas and Diane Craft

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