May 14, 2018 / 2:51 PM / 6 days ago

CANADA STOCKS-Energy, financial shares drive gains on TSX

Canada’s main stock index rose to a more than three-month high on Monday, helped by gains in energy and financial shares.

* At 9:44 a.m. ET (1344 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index rose 56.12 points, or 0.35 percent, to 16,039.44.

* The energy sector’s 1.1 percent rise was the biggest boost to the main index. US crude was up 0.5 percent, while Brent rose nearly 1 percent.

* Shares of Thomson Reuters rose 2 percent, boosting the financial index, after brokerage Canaccord Genuity upgraded the news and information company to “buy” from “hold”. Thomson Reuters, the parent of Reuters, competes for financial customers with Bloomberg LP as well as News Corp’s Dow Jones unit.

* Shares of Element Fleet Management rose 9.7 percent, making it the largest percentage gainer. The company named Jay Forbes chief executive officer and announced a plan to revamp its board by adding four new independent directors.

* Also helping the sentiment was Gold prices, which edged higher on Monday as the U.S. dollar retreated from a 2018 peak, helping shares of precious metal miners.

* All ten of Canada’s main index sectors were in the positive territory.

* Among stocks, Brookfield Asset Management was up 0.7 percent, after the Canadian investment firm made a $3.3 billion approach for Australian hospital group Healthscope .

* Global miners Glencore and Barrick Gold said they expected to receive a prospecting license for a nickel joint venture in Tanzania.

* The TSX posted six new 52-week highs and two new lows. Across all Canadian issues there were 16 new 52-week highs and five new lows.

* The largest decliner was Endeavour Mining, with a 4.6 percent fall.

* Among the most active Canadian stocks by volume were Aurora Cannabis, up 1.3 percent to $8.00. Canada’s biggest marijuana producer said it would buy rival MedReleaf Corp for C$3.2 billion ($2.51 billion).

* Shares of Coro Mining Corp and Element Fleet Management Corp were also among the most heavily traded.

* Volume on the TSX index was 20.68 million shares. Total volume on Monday was 34.65 million shares. (Reporting by Amy Caren Daniel in Bengaluru)

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