Sumary of CANADA STOCKS-TSX rebounds from 3-week low, led by energy shares:
- By Fergal Smith2 Min Read(Adds investor quotes and details throughout, updates prices)* TSX ends up 0.7%* Energy sector jumps 4.3%;
- financials end up 0.6%* U.S. crude oil futures settle 3.1% higher* Canadian inflation rises to 18-year highTORONTO, Sept 15 (Reuters) – Canada’s main stock index rallied on Wednesday as a jump in oil prices gave a boost to energy shares, while higher bond yields helped underpin financials.
- The Toronto Stock Exchange’s S&P/TSX composite index ended up 140.54 points, or 0.7%, at 20,693.79, rebounding from its lowest close in nearly three weeks the day before.
- ”The energy group rose 4.3% to notch its highest level since July 14. Gains for the sector came as U.S. crude oil futures settled 3.1% higher at $72.61 a barrel, supported by a larger-than-expected drawdown in U.S. crude inventories.
- The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8%, while the heavily weighted financials sector ended with a 0.6% gain.