TSX Recovers from Tuesday Blowout

Energy Stocks Key to Gains

Canada's main stock index rose on Wednesday in a broad-based rally led by shares of energy companies as oil recouped some of its early losses, while the Canadian dollar weakened after the Bank of Canada held borrowing costs steady in an interest rate meeting.

The S&P/TSX Composite Index grew 134.73 points to greet noon at 15,198.32

The Canadian dollar tumbled 0.71 cents to 74.73 U.S.

The largest percentage gainers on the TSX were Stars Group, which jumped $1.32, or 5.3%, to $26.46, and Trican Well Service, which rose six cents, or 5%, to $1.27.

Shares of Peyto Exploration & Development Corp fell the most on the index, 43 cents, or 4.3%, to $9.50.

The most heavily traded shares by volume were Aphria Inc, down 84 cents, or 14%, to $5.15, on more than 17 million shares, Aurora Cannabis Inc, down 63 cents, or 8.9%, to $6.49, on seven million shares, and Bombardier, up four cents, or 1.9%, to $2.16, on 3.4 million shares.

As widely expected, the Bank of Canada maintained its target for the overnight rate at 1.75% The Bank Rate remains 2%, and the deposit rate is 1.5%.


The TSX Venture Exchange faded 8.08 points to pause for noon hour at 564.05

All but one of the 12 TSX subgroups were positive midday, with energy gushing 1.8%, industrials roaring ahead 1.5%, and consumer discretionary concerns hiking 1.1%.

The lone laggard was in health-care, doddering 3.7%.

Overseas, in Japan, the Nikkei 225 hesitated 0.5% overnight Wednesday, while in Hong Kong, the Hang Seng index tumbled 1.6%

Oil prices regained 25 cents to $53.50 U.S. a barrel.

Gold prices subtracted $3.70 to $1,242.90 U.S. an ounce.


On Wednesday, U.S. equity, option and fixed income markets will be closed due to the declaration of a National Day of Mourning for former President George H.W. Bush

Markets Closed to Honour George H.W. Bush