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Energy, Cannabis Stocks Lift TSX

The Canadian stock market ended on a firm note on Wednesday, riding on higher crude oil prices and reacting positively to the data on U.S. consumer price inflation.

Although the market was up in positive territory right through the session, the upside was limited due to lingering concerns about global growth and U.S-China and U.S.-EU trade tensions.

The benchmark S&P/TSX Composite Index ended up 59.84 points, or 0.37%, at 16,396.29. The index scaled a low of 16,368.00 and a high of 16,409.77 in the session.

The Capped Energy Index gained 1.73%. Encana Corporation (ECA.TO) climbed up 4.1%, Cenovus Energy (CVE.TO) jumped 4.8%, Imperial Oil (IMO.TO) gained 3.2% and Husky Energy (HSE.TO) advanced 2.1%, while Canadian Natural Resources (CNQ.TO) and PrairieSky Royalty (PSK.TO) ended higher by 1.1% and 1.35%, respectively.

Cannabis shares Aurora Cannabis (ACB.TO), Cronos Group (CRON.TO) and Aphria Inc. (APHA.TO) gained 3 to 4.2%. Green Organic Dutchman Holdings (TGOD.TO) jumped more than 7%.

In the consumer discretionary space, Magna International (MG.TO) ended 1.8% up, Dollarama Inc. (DOL.TO) gained 2%, Stars Group Inc. (TSGI.TO) advanced 1.5%, Canada Goose Holdings (GOOS.TO) ended 1.4% up and Linamar Corporation (LNR.TO) gained 1.7%, while BRP Inc. (DOO.TO) closed 3.4% up.

U.S.stocks moved mostly higher over the course of the trading day on Wednesday, after the minutes of the Federal Reserve's latest monetary policy meeting suggested the outlook for interest rates remains fluid.

The Nasdaq ended the session at its best closing level in over six months.

European markets exhibited a somewhat mixed trend. Markets in Asia too closed mixed.

In commodities, crude oil futures for May ended up $63, or 0.98%, at $64.61, lifted by OPEC-led production cuts and U.S. sanctions on Iran and Venezuela.

Gold futures for June ended up $5.60, or 0.4%, at $1,313.90 an ounce.

Silver futures for May ended up $0.033, at $15.244 an ounce, while Copper futures for May settled at $2.9255 per pound, down $0.0085 from previous close.

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