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CANADA STOCKS-TSX closes higher as trade war fears recede

Mon, 05th Mar 2018 21:36

(Adds details, updates to close)

TORONTO, March 5 (Reuters) - Canada's main stock indexclosed higher in its first positive session in five, asinvestors interpreted U.S. President Donald Trump's threats toimpose tariffs on steel and aluminum imports as a negotiatingtactic to get a better deal on NAFTA talks.

* The Toronto Stock Exchange's S&P/TSX composite indexended the day 156.69 points, or 1 percent, higher at15,541.28, reversing early losses.

* Trump tweeted on Monday that Canada and Mexico could beexempt from the tariffs if a "new & fair" North American FreeTrade Agreement is signed. Representatives from the UnitedStates, Canada and Mexico are meeting in Mexico City on Mondayto wrap up the latest round of discussions on the tradeagreement. Canada sends 75 percent of its exports to the UnitedStates.

* U.S. House Speaker Paul Ryan urged the Trumpadministration not to move forward on the tariffs, citing risksto the economy, after Trump's threats led to warnings aboutretaliatory moves from trading partners.

* All 10 sectors on the TSX index ended the day in positiveterritory.

* The biggest gainer was Crew Energy Inc, whichrecovered from an all-time low hit on March 1 to close up 17.3percent, after reporting increases in its adjusted funds flowand production.

* Marijuana producer Canopy Growth Corp was thesecond-biggest gainer, rising 11.7 percent.

* The healthcare group was the best-performing sector, witha 5.7 percent jump.

* Energy-related companies Baytex Energy Corp,Trican Well Service Ltd and Ensign Energy Services Incwere also among the 10 biggest gainers, rising 10.2percent, 7.5 percent and 7.2 percent respectively.

* U.S. crude futures climbed 2.2 percent to $62.58 abarrel. The energy group was the second-biggest gainer on theTSX, advancing 1.8 percent.

* Interfor Corp was the biggest decliner, with a3.9 percent loss, followed by Corus Entertainment Inc,which fell 3.5 percent.

* The consumer non-cyclicals group, which was littlechanged, was the worst performing sector.

* Canopy Growth and Bombardier Inc werethe most active stocks by volume on the index.

* The TSX had 190 advancing issues and 59 declining ones.One was flat.(Reporting by Fergal SmithEditing by Susan Thomas and Lisa Shumaker)

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