November 28, 2018 / 3:22 PM / 2 years ago

CANADA STOCKS-TSX up on strong earnings of Royal Bank, consumer staples

Nov 28 (Reuters) - Canada’s main stock index rose on Wednesday, driven by strong results from Royal Bank of Canada , which helped lift shares of financial sector.

* Also, Alimentation Couche-Tard rose 2.4 percent, helping the consumer staples sector gain 1.14 percent.

* The world’s second-biggest convenience store operator beat analysts’ earnings expectation as it earned more from improved fuel sales.

* At 9:41 a.m. ET (1441 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 86.99 points, or 0.58 percent, at 15,031.08.

* The financials sector gained 0.8 percent, helped by a 1.5 percent gain in shares of Royal Bank of Canada.

* Canada’s biggest lender topped quarterly earnings expectations, helped by growth in its retail banking and wealth management divisions.

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

* A Reuters poll showed investors see value in Toronto’s commodity-linked stock market and expect it to rebound in 2019 as the global economy continues to grow on hopes of a recovery in Canadian heavy crude price.

* A drop in U.S. crude prices has a negative impact on Canada’s oil patch as the energy sector slumped more than 27 percent this year.

* On the TSX, 181 issues were higher, while 54 issues declined for a 3.35-to-1 ratio favouring gainers, with traded volume touching 15.40 million shares.

* Top percentage gainers on the TSX were Trican Well Service Ltd, which jumped 5.7 percent, followed by a 5.5 percent rise in shares of Aphria Inc.

* First Majestic Silver Corp fell 1.9 percent, the most on the TSX.

* The most heavily traded shares by volume were Aurora Cannabis, Bombardier Inc and Largo Resources .

* The TSX posted three new 52-week highs and eight new lows.

* Across all Canadian issues, there were six new 52-week highs and 31 new lows, with total volume touching 23.12 million shares. (Reporting by Shreyashi Sanyal in Bengaluru)

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