April 24, 2018 / 9:27 PM / 7 months ago

CANADA STOCKS-TSX retreats as oil prices fall, U.S. yields climb

    TORONTO, April 24 (Reuters) - Canada's main stock index fell
on Tuesday as lower oil prices weighed on energy shares, while
investors worried about the prospect of higher global borrowing
costs after the benchmark U.S. 10-year Treasury note            
yield hit 3 percent for the first time in four years.
    
    * The Toronto Stock Exchange's S&P/TSX composite index
          closed down 75.06 points, or 0.48 percent, at
15,477.00. It touched its highest intraday since March 21 at
15,589.20.
    * The energy group fell 0.6 percent as oil prices declined.
    * U.S. crude oil futures        settled 1.4 percent lower at
$67.70 a barrel as concerns faded over the possibility that the
United States might reinstate sanctions against Iran.
            
    * The rise in Treasury yields reflected the durability of
the U.S. economic expansion and stoked views the
three-decade-old bull market in bonds is coming to an end.
            
    * Eight of the index's 10 main groups ended lower.
Industrials fell 0.6 percent as shares of railroad companies
lost ground.
    * The largest decliner was PrairieSky Royal Ltd         ,
down 7.5 percent, after it reported first-quarter results after
the bell on Monday.                        
    * The largest percentage gainer on the TSX was Mitel
Networks Corp         , which rose 9.6 percent. The
telecommunications gear maker says it is selling itself to an
investor group led by Searchlight Capital Partners for about $2
billion.
    * Restaurant Brands International Inc          rose 4.3
percent to C$72.04 after the company reported first-quarter
profit that topped estimates. The company and its franchisees
will spend C$700 million over four years to revamp coffee chain
Tim Hortons following a round of bad publicity over its
management of the Canadian chain.                 
    * The TSX posted 10 new 52-week highs and five new lows.

 (Reporting by Fergal Smith
Editing by James Dalgleish)
  
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