TORONTO: Canada’s main stock index edged higher on Friday as gains in shares of energy companies more than offset losses in the heavyweight financials index.
At 9:43 a.m. ET (1343 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 27.8 points, or 0.17 percent, at 16,089.3.
Eight of the index’s eleven major sectors were higher, led by the energy sector, which climbed 0.3 percent.
Biggest boost to the index was the 0.5 percent gain in shares of Suncor Energy Inc after it filed a mixed shelf offering.
The spread between Brent crude oil and US WTI hit a fresh three-year high with the latter set for a second consecutive week of declines as US oil output comes close to matching that of top producer Russia.
The industrials sector rose 0.4 percent and was the second biggest boost to the index.
The financials sector, which slipped 0.3 percent, was the biggest drag on the index.
Shares of Bank of Nova Scotia fell 1.1 percent and dragged the financials sector lower after news to buy doctors’ wealth services firm MD Financial Management.
On the TSX, 132 issues were higher, while 105 issues declined for a 1.26-to-1 ratio favoring gainers, with 14.28 million shares traded.
The largest percentage gainers on the TSX were Laurentian Bank, which jumped 4 percent, after reporting second-quarter results.
Shares of Cott Corp, which rose 3.4 percent, were the second biggest advancer on the TSX.
Detour Gold Corp fell 2.3 percent, the most on the TSX while the second biggest decliner was New Gold Inc down 2.3 percent.
The most heavily traded shares by volume were Sprott Resource Holdings, Nemaska Lithium and Royal Nickel Corp.
The TSX posted three new 52-week highs and no new lows.
Across all Canadian issues there were 12 new 52-week highs and seven new lows, with total volume of 27.83 million shares.
Source: Brecorder
