September 11, 2019 / 2:06 PM / 2 months ago

CANADA STOCKS-TSX higher on energy boost, hopes of easing trade tensions

Sept 11 (Reuters) - Canada’s main stock index rose on Wednesday, as energy shares tracked gains in oil prices, while hopes of a resolution to the U.S.-China trade war also buoyed sentiment.

* At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 23.46 points, or 0.14%, at 16,560.8.

* Seven of the index’s 11 major sectors were higher, led by the energy sector which climbed 1%.

* Oil prices rose after a reported sharp drop in U.S. crude stocks and OPEC member Iraq said the producer group would discuss deepening output cuts amid ongoing demand concerns.

* Shares of Baytex Energy, MEG Energy Corp and Encana Corp led gains on the main index.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2% as gold futures edged higher.

* On the TSX, 128 issues were higher, while 101 issues declined for a 1.27-to-1 ratio favouring gainers, with 14.25 million shares traded.

* The largest percentage gainer on the TSX were shares of SNC Lavalin, which jumped 6.6% followed by shares of OceanaGold Corp, which rose 3.2%.

* Cargojet fell 2.2%, the most on the TSX, followed by shares of TFI International Inc, down 1.6%.

* The most heavily traded shares by volume were Aurora Cannabis, Crescent Point and Bombardier .

* The TSX posted two new 52-week highs and no new low.

* Across all Canadian issues there were four new 52-week highs and two new lows, with total volume of 22.75 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)

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