February 23, 2018 / 9:32 PM / 3 months ago

UPDATE 1-CANADA STOCKS-TSX ends at 3-week high; oil gains lift energy stocks

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    TORONTO, Feb 23 (Reuters) - Canada's main stock index closed
at a three-week high on Friday, with energy companies leading
gains across the board on higher oil prices.
    
    * The Toronto Stock Exchange's S&P/TSX composite index
          rose 130.28 points, or 0.84 percent, to 15,638.45.
    * The energy group gained 1.5 percent. 
    * Energy-related companies Enerplus Corp         , CES
Energy Solutions Corp          and Enerflex Ltd           were
among the 10 biggest gainers on the index. 
    * U.S. crude        prices were up 1.2 percent at $63.56 a
barrel. 
    * The biggest gainer on the index was Winpak Ltd         ,
which gained 11.5 percent after TD Securities raised its target
price and CIBC raised its rating after the company reported
earnings that beat expectations on Thursday.             
    * Royal Bank of Canada        , Canada's biggest lender by
market value, reported earnings per share, excluding one-off
items, of C$2.05 for the quarter through Jan. 31. Analysts had
on average forecast earnings of C$1.99 per share.             
    * Its shares reversed earlier losses to end the day up 0.4
percent.
    * The financials group, which accounts for more than
one-third of the weight of the TSX, rose 0.6 percent.      
    * The largest decliner was Maxar Technologies Ltd          ,
which retreated 13.4 percent after RBC, CIBC, BMO and Canaccord
Genuity cut their target prices. The company reported earnings
that missed estimates after the bell on Thursday.               
    * All of the TSX's 10 main groups were higher, while the
index posted six new 52-week highs and two new lows. There were
183 advancing issues, 62 declining ones and five were little
changed.
    * Canada's annual inflation rate cooled in January from a
year earlier as consumers paid less for gasoline and vehicles,
but firmer underlying prices were seen keeping the Bank of
Canada on track to raise interest rates again later this year.
            

 (Reporting by Fergal Smith; Editing by Tom Brown)
  
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