November 20, 2017 / 9:53 PM / 25 days ago

CANADA STOCKS-TSX posts one-week high as financials gain, energy slides

 (Adds details throughout and updates prices)
    TORONTO, Nov 20 (Reuters) - Canada's benchmark stock index
edged up to a one-week high on Monday as financial and consumer
discretionary shares gained ground, while energy and mining
stocks were pressured by lower commodity prices.
    
    * The Toronto Stock Exchange's S&P/TSX composite index
          closed up 5.83 points, or 0.04 percent, at 16,004.40,
its highest close since Nov. 13.    
    * The financials group, which contributes more than a third
to the index's overall weight, rose 0.2 percent, helped by gains
for some of the country's major banks as bond yields rose.
    * Canada's 10-year yield climbed 2.3 basis points to 1.960
percent. Higher bond yields increase net interest margins of
banks.
    * The largest percentage gainer on the TSX was Home Capital
Group Inc         , which rallied 7.0 percent to C$16.77. Last
week, some analysts raised their target price on the stock after
the mortgage lender reported third-quarter results.
    * The consumer discretionary group rose nearly 1 percent,
with Dollarama Inc          advancing 1.5 percent to C$153.64.
    * Seven of the index's 10 main groups ended higher.
    * The energy group, which accounts for almost one-fifth of
the index's weight, retreated 1.8 percent as oil prices fell.
    * U.S. crude        prices settled 0.8 percent lower at
$56.09 a barrel, extending recent weakness ahead of a meeting
next week of the Organization of the Petroleum Exporting
Countries.             
    * Canadian Natural Resources Ltd          lost 2.25 percent
to C$43.53 and Cenovus Energy Inc          fell 3.78 percent to
C$12.49.
    * TransCanada Corp          rose 1.6 percent to C$63.51
after Nebraska regulators approved a route through the state for
the company's Keystone XL pipeline.
    * The materials group, which includes precious and base
metals miners and fertilizer companies, fell 0.8 percent.
    * Gold futures        fell 1.5 percent to $1,275.9 an ounce,
pressured by a stronger U.S. dollar.       
    * The TSX composite index lost ground last week, breaking a
nine-week winning streak that had pushed it to an all-time high.

 (Reporting by Fergal Smith and Alastair Sharp; Editing by Susan
Thomas)
  

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below