TSX rises as energy gains, set for first weekly rise in 3 weeks

28 Dec, 2018

* At 9:37 a.m. ET (1437 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was up 64.32 points, or 0.45 percent, at 14,229.53.

* The main index was set to post its first weekly gain after three consecutive weeks of declines.

* All of the index's 11 major sectors were higher, led by a 1.5 percent rise in the energy sector and a 1.4 percent gain in the healthcare sector.

* Oil prices rose, with US crude up 0.9 percent and Brent crude 0.3 percent higher.

* The healthcare sector was lifted by a 9.1 percent rise in shares of Aphria Inc.

* US cannabis retailer Green Growth Brands Ltd said on Thursday it would make a hostile all-stock bid for Aphria in a deal valuing it at C$2.8 billion ($2.06 billion).

* Aphria said on Friday the bid undervalued the company.

* The financials sector gained 0.4 percent. The industrials sector rose 0.7 percent.

* The materials sector added 0.1 percent, as gold prices held near six-month highs and as copper was poised for its first weekly gain in five weeks.

* On the TSX, 206 issues were higher, while 30 issues declined for a 6.87-to-1 ratio favoring gainers, with 11.15 million shares traded.

* Top percentage gainers on the TSX were Aphria and miner Hudbay Minerals Inc, which rose 3.0 percent.

* First Majestic Silver Corp fell 2.5 percent, the most on the TSX, after announcing an equity offering

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

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

* Across all Canadian issues there were three new 52-week highs and nine new lows, with total volume of 18.78 million shares.

Copyright Reuters, 2018
 

 

 

 

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