(Updats to close of market)
By Maiya Keidan
TORONTO, April 10 (Reuters) - Canada's main stock index
rose modestly on Monday as healthcare and energy stocks rallied
and investor confidence continued to improve after fears of a
global banking crisis hurt sentiment last month.
The Toronto Stock Exchange's S&P/TSX composite index closed up 79.13 points, or 0.4%, at 20,196.69.
"I think that we're overall just seeing investor confidence
slowly improving since last month," said Colin Cieszynski, chief
market strategist at SIA Wealth Management.
"We started out flat to slightly lower and now we're
slightly higher, so overall not a bad day."
Toronto's composite index kicked off the week down 42.32
points, of 0.21%, at 20,154.37, weighed down by concerns about
further rate hikes by the U.S. Federal Reserve.
Healthcare stocks led gains, up 2.7%, with
marijuana producer Tilray Brands Inc rising 6.3% amid
reports it plans to acquire Canadian rival Hexo Corp in a deal worth about $250 million. Tilray is also due to
announce results later on Monday.
The energy sector rose 0.8% on Monday after the
largest U.S. oil producer Exxon Mobil Corp reportedly
held preliminary talks with Pioneer Natural Resources Co about a possible acquisition of the shale oil producer.
Teck Resources Ltd ended the day down 2.6% after
reiterating its rejection of an unsolicited bid from Glencore
Plc , and recommended that shareholders vote for its own
restructuring plan instead.
The materials sector , which includes precious
metals, ended the day down 0.1%, tracking weakness in gold and
silver prices. GOL/ MET/L
Technology stocks rose 0.7% while financials gained 0.4%.
Investors are also awaiting the Bank of Canada's decision on
further monetary tightening, and analysts largely expect the
central bank to keep the benchmark rate at 4.5%. 0#BOCWATCH
(Reporting by Maiya Keidan, editing by Deepa Babington)
Messaging: maiya.keidan.thomsonreuters.com@reuters.net))
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