June 18, 2018 / 2:27 PM / in 4 months

CANADA STOCKS-TSX rises as higher oil prices boost energy shares

June 18 (Reuters) - Canada’s main stock index rose on Monday, boosted by the energy sector which climbed higher after a gain in oil prices.

* At 9:56 a.m. ET (1356 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index was up 27.33 points, or 0.17 percent, at 16,341.75.

* Oil prices rose ahead of an OPEC meeting this week that is widely expected to increase global crude supply and as investors assessed the impact of a trade dispute between the United States and China.

* The Canadian energy sector climbed 1.4 percent as U.S. crude prices were up 0.4 percent a barrel, while Brent crude added 1.4 percent.

* Eight of the index’s 11 major sectors were lower, weighed by the healthcare sector, which fell 1.4 percent.

* Shares of Valeant Pharmaceuticals, with a 5.5 percent decline, was the biggest drag to the main index. U.S. health regulators declined to approve the drugmaker’s lotion to treat plaque psoriasis, citing questions related to certain data.

* On the TSX, 148 issues were higher, while 93 issues declined for a 1.59-to-1 ratio favouring gainers, with 31.29 million shares traded.

* Among stocks, the top gainer on the TSX was Canada Goose Holdings, which jumped 9.7 percent after brokerages raised their price targets on the stock.

* Baytex Energy Corp fell 11.2 percent, the most on the TSX, after the oil and gas producer said it would buy rival Raging River Exploration Inc for about C$2.8 billion ($2.13 billion).

* Shares of Arizona Mining Inc gained 48 percent after Australia’s South32 Ltd bid $1.3 billion to take full control of the company.

* The most heavily traded shares by volume were Baytex Energy, Raging River and Arizona Mining.

* The TSX posted seven new 52-week highs and no new lows.

* Across all Canadian issues there were 28 new 52-week highs and eight new lows, with a total volume of 51.26 million shares. (Reporting by Amy Caren Daniel in Bengaluru)

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