April 17, 2019 / 1:59 PM / 2 days ago

CANADA STOCKS-TSX rises as higher oil prices lift energy stocks

April 17 (Reuters) - Canada’s main stock index rose modestly on Wednesday, after higher oil prices lifted the energy sector.

* At 9:34 a.m. ET (1334 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 18.9 points, or 0.11 percent, at 16,521.1.

* Five of the index’s 11 major sectors were higher, led by a 0.5 percent rise in the energy sector.

* U.S. crude prices were up 0.4 percent, while Brent crude added 0.2 percent.

* Brent hit a 2019 high above $72 a barrel, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signalled firm demand, while global supply remained tight.

* The financials sector gained 0.1 percent. The industrials sector rose 0.2 percent.

* Canada’s annual inflation rate edged up to 1.9 percent in March from 1.5 percent in February as the downward pressure from gasoline prices lessened, easing market expectations that the Bank of Canada would cut interest rates by year end.

* On the TSX, 160 issues were higher, while 73 issues declined for a 2.19-to-1 ratio favouring gainers, with 10.20 million shares traded.

* The largest percentage gainers on the TSX were Hexo Corp and First Quantum Minerals, rising 4.5 percent and 3.3 percent, respectively.

* Aphria Inc fell 4.7 percent, the most on the TSX, after Cormark Securities cut its price target on the cannabis producer.

* The second-biggest decliner was Western Forest, down 2.6 percent, after TD Securities downgraded the company’s stock to “hold” from “buy”.

* The most heavily traded shares by volume were Prometic Life Sciences, Stornoway Diamond Corp and Aphria.

* The TSX posted one new 52-week high and one new low.

* Across all Canadian issues, there were 17 new 52-week highs and seven new lows, with total volume of 20.70 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)

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