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Canadian stocks up on major energy dealmaking

English.news.cn   2014-04-15 07:31:18

TORONTO, April 14 (Xinhua) -- Canada's main stock index rebounded Monday from last week's losing streak over major dealmaking in the resource sector and a strong reading on U.S. retail sales. The benchmark Toronto Stock Exchange's S&P/TSX composite index went up by 26.74, or 0.19 percent, to close at 14,284.43 points. Mining, with a 2.24 percent gain, and energy sectors took the lead to climb among the eight main sectors of the index.

Mining giant Glencore Xstrata is selling its Las Bambas copper project in Peru to a group of Chinese state-owned companies for 5. 85 billion U.S. dollars. Caracal Energy Inc. has terminated plans to merge with a Calgary-based TransGlobe Energy company and reached a friendly deal to be acquired by Glencore Xstrata.

Liquefied natural gas supplier Stabilis Energy said Monday that it would buy most of the U.S. assets of Encana Natural Gas Inc, a unit of Encana Corp, whose shares gained 0.53 percent to 24.78 Canadian dollars.

However, residents of the western British Columbia town of Kitimat voted against the Northern Gateway pipeline project in a blow to Enbridge's efforts to expedite the flow of crude from Canada's landlocked oil sands to high-paying markets in Asia. Enbridge shares dipped 0.8 percent to 50.76 dollars.

Meanwhile, U.S. indexes also found a lift from earnings at Citigroup that beat expectations. U.S. retail sales rose 1.1 percent in March, the best showing since September 2012. The Canadian dollar was up to 0.9125 U.S dollar on Monday, compared with 0.9106 U.S. dollar last Friday.

Editor: Fu Peng
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