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Roundup: Canadian stock market rebounds on energy, industrials rally

Xinhua, March 12, 2015 Adjust font size:

Canada's main stock index rebounded on Wednesday as the gains of energy and industrial sectors offset the losses in healthcare.

The benchmark Toronto Stock Exchange's S&P/TSX composite index was up 97.44 points, or 0.67 percent, to 14,739.20 points, with six of eight major sectors posting gains.

Energy sector rose 1.37 percent when Brent for April delivery rebounded from a month-trough, advancing 1.15 U.S. dollars to 57. 54 dollars on Wednesday.

Most of the Canadian energy shares gained. Suncor Energy Inc. added 1.35 percent to 36.02 Canadian dollars (about 28.23 U.S. dollars), Canadian Natural Resources Ltd. advanced 1.15 percent to 36.81 Canadian dollars, and Canadian Oil Sands Ltd. jumped 3.39 percent to 9.46 Canadian dollars.

Industrials also lifted the market sentiment, increasing by 1. 71 percent. Canada's railway and aircraft maker Bombardier rose 6. 41 percent to 2.49 Canadian dollars, and it was the most active share across the TSX board on Wednesday. Canadian Pacific Railway Ltd. also rose 1.93 percent to 236.82 Canadian dollars, while Canadian National Railway Company added 2.63 percent to 85.73 Canadian dollars apiece.

Info-tech sector added 1.27 percent, boosted by its heavyweight Constellation Software Inc., which surged 3.77 percent to 441.22 Canadian dollars.

Financials, the index's most heavily weighted sector, rose 0.50 percent, with Royal Bank of Canada up 0.38 percent to 75.98 Canadian dollars.

However, the healthcare sector plunged 1.17 percent as Valeant Pharmaceuticals International gave back 3.11 percent at 247.51 Canadian dollars after the company raised almost 10 billion Canadian dollars in debt this week to finance an acquisition plan.

The metals and mining sector edged down 0.08 percent., when First Quantum Minerals Ltd. dived 3.44 percent to 13.74 Canadian dollars.

On the currency front, weighed by the strong U.S. dollar, the Canadian dollar moved down to 0.7836 U.S. dollars on Wednesday, compared with 0.7886 U.S. dollars on Tuesday. Endite