TSX Joins U.S.-Led Relief -- Canadian Commentary

(RTTNews) - Canadian stocks rallied Thursday along with U.S. equities, breaking out of a modest slump as worries of a trade war between the U.S. and China eased.

The TSX Composite Index was up 191.68 points to 15,356.05, with marijuana stocks turning in a great performance along with Crescent Point Energy (CPG.TO).

Corus (CJE.TO) shares rose sharply after entertainment company reported a $40 million second quarter profit.

CIBC (CM.TO) has filed to list its Carribean subsidiary in New York.

Cenovus Energy Inc. (CVE.TO, CVE) announced the appointment of Jonathan McKenzie as next CFO. He will replace Ivor Ruste who will retire on April 30, 2018.

McKenzie comes to the company from Husky Energy (HSE.TO) where he has been CFO since 2015.

Nymex May oil futures settled 17 cents higher at $63.54 a barrel.

In economic news, Canada's merchandise trade deficit totalled C$2.7 billion in February, widening from a C$1.9 billion deficit in January. Imports rose 1.9% and exports increased 0.4%.

U.S. initial jobless claims climbed to 242,000, an increase of 24,000 from the previous week's revised level of 218,000.