Canadian Stocks Hold Gains

May 15, 2017

Canadian stocks have maintained gains, driven by energy shares that have, in turn, been boosted by the bounce in oil prices that came after the Organization of the Petroleum Exporting Countries (OPEC) and Russia announced they would extend supply cuts until May of next year.

The S&P/TSX was 100 points, or 0.6% higher, with energy up 1.6%. GoCs remained under mild pressure. The 2-year was up nearly 1.5 basis points at 0.687% while the 10-year was 1.5 bp higher at 1.583%. The loonie remained stronger against the U.S. dollar, but off its best levels. USD-CAD was at 1.3644 from a 1.3604 session low, but well below the just over 1.3700 region seen late Friday in New York session.

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By Caroline Williams

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