June 1, 2018 / 2:25 PM / 5 months ago

CANADA STOCKS-TSX edges higher, powered by gains in energy stocks

June 1 (Reuters) - 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 U.S. WTI hit a fresh three-year high with the latter set for a second consecutive week of declines as U.S. 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.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur

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