TSX higher as energy companies rise

Reuters | Updated: Jul 26, 2019, 19:39 IST

July 26 (Reuters) - Canada's main stock index gained on Friday, driven by a rise in the energy sector as oil companies hoped to reach an agreement with the Alberta government to boost production.* Two of Canada's biggest energy producers on Thursday said they were looking to the Alberta government to agree to a deal that would allow companies to boost their oil output in the face of curtailments in Canada's main crude-producing province.* At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was up 44.73 points, or 0.27%, at 16,532.93.* The main index is on track to end the week in the black with its 0.3% gain so far.* The energy sector climbed 0.3%, with shares of Baytex Energy and Gran Tierra Energy leading gains.* All of the index's 11 major sectors were higher.* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2% as gold prices firmed on Friday.* On the TSX, 150 issues were higher, while 77 issues declined for a 1.95-to-1 ratio favouring gainers, with 12.42 million shares traded.* The top percentage gainers on the TSX were CannTrust Holdings, which jumped 16.7% after it fired Chief Executive Officer Peter Aceto, more than two weeks after Health Canada found the marijuana producer grew cannabis in unlicensed rooms.* Canfor Corp fell 5.9%, the most on the TSX, followed by shares of Interfor Corp, down 2.9%.* The most heavily traded shares by volume were CannTrust, Encana Corp, and Yamana Gold Inc.* The TSX posted 11 new 52-week highs and three new lows.* Across all Canadian issues there were 32 new 52-week highs and eight new lows, with total volume of 19.27 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shailesh Kuber)

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