Canada’s main stock index rose on Tuesday as investors cheered the re-election of a Liberal government under Prime Minister Justin Trudeau, but concerns over a minority government’s ability to build new oil pipelines pulled energy shares lower.
* At 9:50 a.m. ET (13:50 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 44.04 points, or 0.27%, at 16,462.49.
* Trudeau’s Liberals held onto power after a closely fought election on Monday but were reduced to a minority.
* Ten of the index’s 11 major sectors were higher, with only energy down as a minority leaves Trudeau in need of support from Left-leaning parties that are opposed to new oil pipelines
* The financials sector gained 0.3%, while industrials rose 0.5%.