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CANADA STOCKS-TSX breaks six-day losing streak as banks rise, energy stocks lag
November 16, 2017 / 9:47 PM / a month ago

CANADA STOCKS-TSX breaks six-day losing streak as banks rise, energy stocks lag

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TORONTO, Nov 16 (Reuters) - Canada’s main stock index broke a six-day losing streak on Thursday, helped by gains among its biggest banking stocks as bond yields rose, while continued weakness in oil prices weighed on its energy companies.

* The Toronto Stock Exchange’s S&P/TSX composite index ended the session up 56.89 points, or 0.36 percent, at 15,935.37.

* It had fallen 1.6 percent prior to Thursday’s session since closing at an all-time high of 16,131.79 on Nov. 7.

* The energy group retreated 0.7 percent, with Seven Generations Energy Ltd falling 9.2 percent to C$16.58 after announcing its capital investment plans for 2018. Suncor Energy Inc lost 0.8 percent to C$45.02 as oil prices extended their falls on worries about U.S. oversupply.

* The financials group, which accounts for more than a third of the index’s weight, gained 0.7 percent as bond yields in both Canada and the United States moved higher. Bank of Nova Scotia rose 0.9 percent to C$83.99 and Canadian Imperial Bank of Commerce added 1.2 percent to C$114.18.

* Shares in Shopify Inc rose 6 percent to C$132.51 after the commerce software company said it had reached a deal with United Parcel Service Inc to provide its U.S. member merchants with discounted shipping rates.

* Among the most active Canadian stocks by volume were Aurora Cannabis Inc, down 13.2 percent to $5.40 and Canopy Growth Corp, down 6.5 percent to $17.26.

* Canopy Growth said late on Wednesday that it was investing in fellow marijuana producer TerrAscend Corp. Aurora said it had arranged a $100 million financing.

Reporting by Alastair Sharp; Editing by Susan Thomas and Lisa Shumaker

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