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Toronto stocks edge up as energy continues rally

Xinhua, September 30, 2016 Adjust font size:

Canada's main stock market edged up Thursday as energy stocks remained strong a day after a surprised agreement reached by Organization of the Petroleum Exporting Countries (OPEC) to limit supply.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index was up 23.12 points, or 0.16 percent, to close at 14,754.55 points. Three of the ten sub-sectors in the index were in the positive on the day.

The TSX Energy Group had the biggest impact on the market, rising 2.24 percent. The sector continues to rally after falling 38 percent earlier in the year and is now closing in on a 52-week high.

Calgary-based energy producers Encana Corporation and MEG Energy Corp were two of the most traded stocks on the day. Encana saw shares rise 8.31 percent to close at 13.29 Canadian dollars (about 10.10 U.S. dollars).

A day after a 13.27-percent surge, MEG Energy Corp climbed 7.39 percent on the day to close at 5.96 Canadian dollars (about 4.53 U.S. dollars) a share. The stock is now up 21.63 percent over the past two days. Endi