TSX rises to near six-week high, led by financial and technology shares


* TSX ends up 0.5% at 33,879.24

* Posts highest closing level since March 4

* Technology sector rises 4.5%

* GFL Environmental falls 10% after acquisition (Updates at market close)

TORONTO, April 13 (Reuters) – Canada’s main stock index rose to a near six-week high on Monday, led by financial and technology shares, as investors counted on an eventual peace deal between the United States and Iran.

The Toronto Stock Exchange’s S&P/TSX Composite Index ended up 183.48 points, or 0.5%, at 33,879.24, marking its highest closing level since March 4. The U.S. military began a blockade of ships leaving Iran’s ports on Monday, President Donald Trump said, and Tehran threatened to retaliate against ports of its Gulf neighbors after weekend talks on ending the war broke down.

“Investors believe that even though negotiations did not work out over the weekend we still are going to see a deal,” said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth.

The technology sector jumped 4.5%, helped by a gain of 6.4% in the shares of application software company Constellation Software Inc.

Energy rose 0.8% as the price of oil settled 2.6% higher at $99.08 a barrel, while heavily weighted financials added 1.2%. Spain’s Cellnex is in talks to sell its stake in its Swiss unit to Manulife Financial Corporation’s investment management unit, according to two sources with knowledge of the situation. Manulife Financial’s shares were up 1.6%. Three of the 10 major sectors ended lower, including consumer staples, which was down 2.4%. Canadian waste management firm GFL Environmental said it would buy peer Secure Waste Infrastructure in a deal worth about C$6.4 billion ($4.63 billion), including debt, as it looks to deepen its presence in Western Canada. Shares of GFL tumbled 10.0%, while Secure Waste shares ended 5.1% higher. (Reporting by Fergal Smith in Toronto and Utkarsh Hathi in Bengaluru; Editing by Jonathan Ananda and Nick Zieminski)


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