(Updates to close)
* TSX closes up 35.33 points, or 0.23 percent, to 15,348.46
March 22 Canada's main stock index ended
slightly higher on Wednesday, with gains in energy, industrials
and materials groups offsetting losses from financials as the
market recovered from a large sell-off the day before.
The Toronto Stock Exchange's S&P/TSX composite followed U.S.
stocks in ending slightly up as investors focused on President
Donald Trump's struggle to push through a healthcare bill and
snapped up stocks after a steep drop the day before.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 35.33 points, or 0.23 percent, at 15,348.46.
"It's just the correlation with the U.S. market," said
Marcus Xu, president and director, portfolio manager, of M.Y.
Capital Management Corp.
"Yesterday there was some jitter on the financials and the
market was down quite a bit, and today I think it's just a
little bit of rebound."
The energy group climbed 0.4 percent, with Suncor Energy Inc
up 0.4 percent at C$40.70, and TransCanada Corp
up 0.7 percent at C$61.50.
The increase came even as the price of oil, one of Canada's
leading exports, slipped to its lowest since late November after
data showed record-high U.S. crude inventories rising faster
than expected, raising doubts over the viability of OPEC-led
U.S. crude prices were down 0.3 percent to $48.12 a
barrel, while Brent crude lost 0.5 percent to
The financials group slipped 0.2 percent. Royal Bank of
Canada fell 0.2 percent to C$95.21, and Toronto Dominion
Bank slipped 0.2 percent to C$64.72.
Industrials rose 0.2 percent.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.3 percent. Barrick Gold
Corp was down 0.04 percent to C$25.98.
Gold futures rose 0.1 percent to $1,247.7 an ounce.
Copper prices advanced 0.6 percent to $5,808.25 a
Investors had been waiting on a federal budget released
after the close.
Canada posted a slightly larger surplus in January of C$1.24
billion, up from C$1.07 billion a year ago as revenues increased
in most areas, including corporate income tax, the Finance
Department said on Wednesday.
(Reporting by Ethan Lou in Calgary, Alberta; Editing by James