March 26, 2018 / 9:06 PM / 8 months ago

CANADA STOCKS-TSX rebounds from five-week low as trade war fears ebb

 (Adds details throughout, updates prices to close)
    TORONTO, March 26 (Reuters) - Canada's main stock index
rebounded on Monday from a five-week low, led by consumer
discretionary and energy shares, as fears of a global trade war
receded.
    
    * China scrambled to avert a trade war with premier Li
Keqiang reiterating pledges to ease access for American
businesses.             
    * The Toronto Stock Exchange's S&P/TSX composite index
          closed up 74.82 points, or 0.49 percent, at 15,298.56.
On Friday, the index had posted its lowest close since Feb. 13.
    * Shares of auto-parts company Magna International Inc
       , which is sensitive to trade, climbed 3.9 percent to
C$71.20. The overall consumer discretionary group gained 1.4
percent.
    * The energy group advanced 1.1 percent even as oil prices
slipped.
    * Suncor Energy Inc         rose 2.8 percent to C$44.09.
    * U.S. crude oil futures        settled 0.5 percent lower at
$70.12 a barrel as investors cashed in some profits from last
week's rally.             
    * The materials group, which includes precious and base
metals miners as well as fertilizer companies, added 0.8
percent.
    * Industrials rose 0.8 percent as railroad shares climbed
and financials, which account for more than one-third of the
weight of the TSX, gained 0.3 percent.
    * Seven of the index's 10 main groups rose.
    * The largest percentage gainer on the TSX was Birchcliff
Energy Ltd         , which rose 5.4 percent, while the largest
decliner was Eldorado Gold         , down 6.0 percent.

 (Reporting by Fergal Smith; 
Editing by Sandra Maler)
  
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