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Roundup: Canadian stock market hits one-month high as energy extends gains

Xinhua, April 8, 2015 Adjust font size:

Canada's main stock market in Toronto edged up to a one-month high on Tuesday as the energy shares were in the rising stream over a solid gain in oil prices.

Toronto Stock Exchange's benchmark S&P/TSX Composite Index was up 88.19 points, or 0.58 percent, to 15,188.84 points, the highest closing point since March 3, when the index settled at 15,133.85 points.

The energy sector advanced 1.41 percent, a fourth consecutive growth since the beginning of April, as Tuesday witnessed another solid gain in oil prices, with light, sweet crude for May delivery up 1.84 U.S. dollars to settle at 53.98 dollars a barrel on the New York Mercantile Exchange.

The oil and natural gas producers Canadian Natural Resources Ltd. climbed 1.96 percent to 41.04 Canadian dollars (about 32.82 U. S. dollars) and Encana Corporation strengthened 3.79 percent to 15. 07 Canadian dollars.

The index's most heavily weighted sector, financials, added 0. 72 percent as Toronto-Dominion Bank grew 0.81 percent to 54.54 Canadian dollars, and Royal Bank of Canada was up 0.96 percent to 77.81 Canadian dollars.

Info-tech sector led the TSX gain by 2.14 percent when its heavyweights CGI Group Inc. increased 1.89 percent to 55 Canadian dollars; and Constellation Software Inc. jumped 4.18 percent to 480.25 Canadian dollars.

Other gainers included Metals and Mining, up 0.42 percent, and Industrials and Healthcare added 0.56 percent and 0.35 percent, respectively.

However, Utilities bucked the trend, down 0.28 percent, when Canadian Utilities Ltd. slipped 0.02 percent to 40.13 Canadian dollars.

In the companies' news, Hudson's Bay Company surged 5.56 percent to 28.29 Canadian dollars after the company reported its fourth-quarter profit of last year on Tuesday. The digital sales result of the retailer soared 35.1 percent to 304 million Canadian dollars.

On the currency front, the Canadian dollar on Tuesday closed lower to 0.7997 U.S. dollar from 0.8014 U.S. dollar on Monday. Endite