TSX Inches Higher As Oil Rallied -- Canadian Commentary

(RTTNews) - Canadian stocks nudged higher Thursday, powered by gains in the energy sector as traders overcame anxiety that the Bank of Canada will raise interest rates next week.

The TSX Composite Index was up 38.99 points to 16,286.94.

Energy prices spiked amid speculation that OPEC will curb production in 2018 and re-balance the global oil markets. Feb. WTI oil gained 23 cents, or 0.4%, to settle at $63.80/bbl.

Laurentian Bank (LB.TO) says the amount of problematic loans discovered in its mortgage portfolio has increased from $304 million to $392 million. Shares slipped 0.76 percent.

Shaw Communications Inc. (SJR_B.TO, SJR) confirmed that it remains on track to meet its fiscal 2018 guidance. The company reported 34,000 new subscribers in the most recent quarter. Net income rose 28%. Shares fell 2.7%.

WestJet (WJA.TO) reported a December Load Factor of 83.6%, an increase Of 2.8% Year Over Year. Shares were down 0.8%.

Aritza (ATZ.TO) said its comparable sales grew 6.3% for its third quarter. Adjusted net income was up 11.4%.

Canada's new housing price index climbed 0.1% in November on a month-over-month basis, Statistics Canada said Thursday. That was slightly below expectations.