(Updates at market close)
* TSX ends up 0.5% at 33,108.22
* For the week, the index gains 3.6%
* Energy adds 2% as oil price jumps
* Utilities was up 1%
By Fergal Smith
April 2 (Reuters) - Canada's main stock index added to
its weekly gain on Thursday, as a jump in oil prices on fading
hopes that the Iran war would soon end boosted energy shares.
The Toronto Stock Exchange's S&P/TSX Composite Index
ended up 150.27 points, or 0.5%, at 33,108.22, posting
its highest closing level since March 11.
For the holiday-shortened week, the TSX was up 3.6%, which
was its biggest weekly gain since November. The index is set to
be closed on Friday in observance of Good Friday.
The price of oil settled 11.4% higher at $111.54 a barrel
in volatile trading, as traders worried about prolonged
disruptions to oil supply the day after U.S. President Donald
Trump said the United States would continue attacks on Iran.
"War news is driving everything," said Colin Cieszynski,
chief market strategist at SIA Wealth Management. "We are seeing
a little bit of defense and a lot of interest in the resource
sectors ongoing.
Domestic data had little impact. Canada's trade deficit widened
to C$5.74 billion ($4.12 billion) in February from an upwardly
revised C$4.18 billion in the prior month as both imports and
exports climbed.
Energy gained 2%, lifting its gains since the
start of the year to 38.8%.
Utilities, which is considered a defensive play,
was up 1%.
Technology added 1.1% and heavily weighted financials edged
0.4% higher.
Just two of 10 major sectors ended lower, including
materials. It dipped 0.5% as the price of gold fell
1.9%, giving back some of its gains in recent days.
Shares of Rogers Communications ( RCIAF ) lost 7.9% after TD
Cowen cut its rating and price target on the stock.