TSX gains on rise in energy shares

(Reuters) - Canada’s main stock index rose on Tuesday, helped by gains in energy shares on the back of rising oil prices.

FILE PHOTO: A logo for TMX Group, which operates the Toronto Stock Exchange, is seen after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren

* At 9:36 a.m. ET (1436 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 45.88 points, or 0.29 percent, at 16,084.01.

* The energy sector edged up 0.5 percent, as oil prices rose on OPEC-led supply cuts.

* U.S. crude prices were up 0.7 percent, while Brent crude added 0.4 percent.

* Eight of the index’s 11 major sectors were higher.

* The Canadian dollar slipped to the lowest in more than five weeks on expectations the central bank was approaching a policy turning point and as concerns grew over a political scandal that has triggered cabinet resignations.

* The Bank of Canada is still set to hike its key interest rate once again later this year, but there is now a small chance of a cut, a Reuters poll showed on Monday.

* The financials sector inched up 0.1 percent.

* The materials sector, which includes precious and base metals miners, added 0.4 percent, as copper prices rose after China, the top consumer in the world, unveiled economic stimulus measures including tax cuts for manufacturing industry, bolstering the demand outlook.

* On the TSX, 160 issues were higher, while 61 issues declined for a 2.62-to-1 ratio favoring gainers, with traded volume touching 11.59 million shares.

* The largest percentage gainer on the TSX was MAG Silver Corp, which rose 10.1 percent. This was followed by a 4.8 percent rise in shares of Endeavor Mining.

* Transcontinental Inc fell 2.6 percent, the most on the TSX.

* The most heavily traded shares by volume were Aurora Cannabis, Aberdeen International Inc and GeneNews Ltd.

* The TSX posted 11 new 52-week highs and one new low.

* Across all Canadian issues, there were 18 new 52-week highs and two new lows, with total volume touching 19.17 million shares.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by James Emmanuel