January 19, 2018 / 10:28 PM / in 2 years

CANADA STOCKS-TSX rises, led by bank and railroad shares

(Updates prices to close)

* TSX closes up 68.99 points, or 0.42 percent, at 16,353.46

* Nine of the index’s 10 main groups end higher

* Financials climb 0.6 percent, industrials gain 1.2 percent

TORONTO, Jan 19 (Reuters) - Canada’s main stock index rose on Friday in a broad-based rally led by financial and industrial shares, while lower oil prices weighed on energy stocks.

* The Toronto Stock Exchange’s S&P/TSX composite index closed up 68.99 points, or 0.42 percent, at 16,353.46.

* For the week, the index rose 0.3 percent.

* Some of the most influential movers on the index were the country’s major banks. Royal Bank of Canada rose 0.8 percent to C$107.72, while Toronto-Dominion Bank added 0.4 percent to C$74.08.

* The overall financial services group, which accounts for more than one-third of the TSX’s weight, gained 0.6 percent, while the materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent.

* Barrick Gold Corp climbed 1.6 percent to C$17.99. Gold futures rose 0.5 percent to $1,333 an ounce.

* Industrials advanced 1.2 percent as railroad stocks gained ground.

* Canadian Pacific Railway Ltd was up 2.8 percent at C$233.40 after the company reported on Thursday fourth-quarter profit that beat analysts’ estimates.

* Canadian manufacturing sales jumped 3.4 percent in November, their biggest increase in 2-1/2 years, on strength in transportation equipment and petroleum and coal products, Statistics Canada said.

* Nine of the index’s 10 main groups gained.

* Kinder Morgan Canada Ltd climbed nearly 7 percent to C$17.91 after Canada’s National Energy Board on Thursday set out a process for resolving permit disputes related to the company’s Trans Mountain pipeline expansion project.

* Still, the energy group fell 0.4 percent. U.S. crude oil futures settled 0.9 percent lower at $63.37 a barrel. (Reporting by Fergal Smith; Editing by Nick Zieminski and James Dalgleish)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below