April 20, 2018 / 9:12 PM / 5 months ago

CANADA STOCKS-TSX rises, led by financials and Rogers Communications

    TORONTO, April 20 (Reuters) - Canada's main stock index rose
on Friday as higher bond yields boosted financials, while shares
of Rogers Communications           jumped after the
telecommunications company reported profits that beat estimates.
    
    * The Toronto Stock Exchange's S&P/TSX composite index
          closed up 29.9 points, or 0.19 percent, at 15,484.32.
    * For the week, the index rose 1.4 percent.
    * Financials, which account for more than one-third of the
weight of the TSX, rose 0.5 percent.
    * Canada's 10-year yield reached its highest intraday since
Feb. 21 at 2.357 percent. Higher bond yields reduce the value of
insurance companies' liabilities and increase net interest
margins of banks.
    * Rogers Communications climbed 5.9 percent to C$61.34.
First-quarter results, reported by the cable and telecom company
after the bell on Thursday, showed that more wireless postpaid
and internet customers had been signed up.             
    * Six of the index's 10 main groups ended higher.
    * Energy fell 0.6 percent.
    * The price of oil recovered after an earlier slide driven
by U.S. President Donald Trump's criticism of OPEC's role in
pushing up global oil prices. U.S. crude oil futures CLc1
settled 0.1 percent higher at $68.38 a barrel.      
    * The TSX posted three new 52-week highs and three new lows.
    * The largest percentage gainer on the TSX was Nexgen Energy
Ltd         , which rose 6.2 percent, while the largest decliner
was Cascades Inc         , down 5.0 percent.
    * Among the most active Canadian stocks by volume were
Cenovus Energy         , down 3.3 percent to C$12.28 and Baytex
Energy Co         , up 2.3 percent to C$4.90.

 (Reporting by Fergal Smith; Editing by Cynthia Osterman)
  
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