November 26, 2018 / 3:03 PM / 2 years ago

CANADA STOCKS-TSX higher as energy shares gain on oil rebound

Nov 26 (Reuters) - Canada’s main stock index rose on Monday, as a slight recovery in oil prices helped boost the energy sector.

* At 9:52 a.m. ET (1452 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 90.06 points, or 0.6 percent, at 15,100.79.

* The energy sector climbed 1.3 percent, as prices of oil inched above $60 a barrel, recovering from some of the previous session’s near-7 percent fall.

* U.S. crude and Brent crude prices were up 2.4 percent each.

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

* Also lifting the sentiment was a 1.2 percent gain in the technology sector. A 3.5 percent gain in Shopify Inc led the advancers.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2 percent after gold prices rose on weakening dollar, with uncertainties over the outcome of an upcoming G20 meeting.

* The financials sector gained 0.5 percent.

* Analysts said competition for deposits among Canada’s biggest banks is heating up for the first time since the global financial crisis, leading to higher funding costs that could crimp profit growth in their domestic businesses over the next two years.

* On the TSX, 173 issues were higher, while 56 issues declined for a 3.09-to-1 ratio favouring gainers, with 7.16 million shares traded.

* Top percentage gainers on the TSX were shares of New Gold Inc, which jumped 4.1 percent, followed by a 3.7 percent gain in shares of Tamarack Valley Energy Inc.

* Altagas Ltd fell 2.3 percent, the most on the TSX, followed by shares of Enghouse Systems Inc, which dropped 2.1 percent.

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

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

* Across all Canadian issues there were three new 52-week highs and 21 new lows, with total volume of 11.39 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)

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