TSX on track for 11th straight win

Cronos Group Inc. rose 8.32 per cent after CIBC launched coverage of cannabis stocks, rating the company as an “outperform.” Canopy Growth Corp.

Canada’s main stock index is on track for its 11th straight winning session Friday, which would be the index’s longest hot streak since last May.

Stocks were trading higher, boosted by reports the United States may be prepared to ease tariffs on Chinese goods.

As of 11:19 a.m. ET, the S&P/TSX composite index was up 67 points, or 0.44 per cent, at 15,278.76.

U.S. stocks were also trading higher after Bloomberg reported China extended an olive branch to the United States, offering to go on a six-year buying spree of American goods in an effort to eliminate the trade imbalance between the two countries.

The Dow Jones Industrial Average rising 227 points, or 0.93 per cent, to 24,597.12. The S&P 500 is up 29 points, or 1.12 per cent, at 2,665.43. The Nasdaq Composite is adding 76 points, or 1.09 per cent, to 7,161.35.

Notable TSX movers

Cronos Group Inc. rose 8.32 per cent after CIBC launched coverage of cannabis stocks, rating the company as an “outperform.” Canopy Growth Corp. was trading 2.79 per cent higher for the same reason.

NFI Group Inc. rose 6.43 per cent after announcing it will double the amount of shares it may purchase under its buyback plan.

Turquoise Hill Resources Ltd. was 4.78 per cent higher as its full-year gold and copper production guidance exceeded expectations.

Meanwhile, IAMGOLD Corp. fell 3.77 per cent after being hit with an analyst downgrade by BMO Capital Markets.

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TSX rises 0.43 percent

TO), up 6.9 percent, and Aurora Cannabis Inc (ACB.TO), higher by 5 percent. * Lagging shares were NFI Group Inc (NFI.TO), down 14.3 percent, …

Businessmen pass the Toronto Stock Exchange sing in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

NEW YORK (Reuters) – * The Toronto Stock Exchange’s S&P/TSX .GSPTSE rose 64.98 points, or 0.43 percent, to 15,111.26.

* Leading the index were First Quantum Minerals Ltd (FM.TO), up 14.8 percent, Centerra Gold Inc (CG.TO), up 6.9 percent, and Aurora Cannabis Inc (ACB.TO), higher by 5 percent.

* Lagging shares were NFI Group Inc (NFI.TO), down 14.3 percent, Iamgold Corp (IMG.TO), down 10.5 percent, and Bombardier Inc (BBDb.TO), lower by 4.3 percent.

* On the TSX 139 issues rose and 93 fell as a 1.5-to-1 ratio favored advancers. There were 4 new highs and 1 new lows, with total volume of 248.4 million shares.

* The most heavily traded shares by volume were Aurora Cannabis Inc (ACB.TO), Bombardier Inc (BBDb.TO) and Encana Corp (ECA.TO).

* The TSX’s energy group .SPTTEN fell 0.99 points, or 0.65 percent, while the financials sector .SPTTFS climbed 2.96 points, or 1.05 percent.

* West Texas Intermediate crude futures CLc1 rose 0.56 percent, or $0.29, to $52.4 a barrel. Brent crude LCOc1 rose 1.24 percent, or $0.75, to $61.39 [O/R]

* The TSX is up 5.5 percent for the year.

Reporting by Lewis Krauskopf

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Financial sector helps lift Toronto stocks, US stocks also climb higher

Cannabis stocks helped send the health-care index up 1.97 per cent as Aurora Cannabis Inc. climbed 4.97 per cent. The energy sector index, which …

TORONTO — Gains in the financial and health-care sectors helped Canada’s main stock index close higher along with U.S. indices.

Bank stocks in the U.S. rose as both Goldman Sachs and Bank of America reported strong earnings, prompting rises in financial stocks in general, said Les Stelmach, portfolio manager at Franklin Bissett Investment Management.