Off the wire
• UN chief remains hopeful that Libya dialogue process will help end crisis  • Roundup: U.S. stocks surge amid positive Greece news  • UN humanitarian chief calls for greater assistance to Iraqi people  • 1st LD: World Bank lowers global economic growth projection to 2.8 pct  • Finnish economy predicted to grow 0.2 pct in 2015: Bank of Finland  • 1st LD: New Zealand central bank cuts interest rate by 25 basis points  • Like humans, chimps can smile silently: study  • Sub-Saharan Africa economies entering more challenging era: report  • Lebanon's Hezbollah says battle against IS starts  • 1st LD Writethru: U.S. stocks surge amid positive Greece news  
You are here: 　 Home

Roundup: Canadian stock market extends gains on higher oil prices

Xinhua, June 11, 2015 Adjust font size:

Canada's main stock market in Toronto on Wednesday continued the rising streak, after rising oil prices boost energy shares.

Toronto Stock Exchange's benchmark S&P/TSX Composite Index added 71.33 points, or 0.48 percent, to 14,889.04 points.

The energy sector rose 1.25 percent, stimulated by the rising oil prices. Light, sweet crude for July delivery was up 1.29 U.S. dollars to settle at 61.43 U.S. dollars a barrel on the New York Mercantile Exchange.

The leading energy companies also closed higher with Suncor Energy Inc. up 0.98 percent to 36.23 Canadian dollars (about 29.55 U.S.dollars), and Encana Corp. jumping 2.35 percent to 15.24 Canadian dollars.

But the stocks of oil sands companies were in the red after a group of scientists and academics called for a halt to the oil sands development. It was reported that 110 researchers from across North America signed a statement on Wednesday, arguing that planned growth in oil sands production is inconsistent with efforts to cut greenhouse-gas emissions.

Canadian Oil Sands Ltd. lost 1.05 percent to 10.39 Canadian dollars per share.

Financials, another influential mover, was up 0.59 percent when Sun Life Financial Inc. soared 2.64 percent to 42.7 Canadian dollars.

Other gainers included Industrials and Metals and mining, modestly higher 0.26 percent and 0.18 percent respectively.

Health care shares lost. Canada's biggest drug maker Valeant Pharmaceuticals International declined 1.9 percent, and the healthcare IT solutions provider Catamaran Corp. retreated 0.79 percent to 74.06 Canadian dollars.

Another sector in the negative territory is Telecom, down 0.23 percent as Rogers Communications Inc. plunged 1.37 percent to 41.7 Canadian dollars after the telecommunications company announced that it is getting out of the real estate business and shutting down its discount brokerage.

On the currency front, the Canadian dollar Wednesday climbed higher to 0.8155 U.S. dollar, compared with 0.8100 U.S. dollar on Tuesday, helped by the weakening greenback. Endite