🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

CANADA STOCKS-TSX flat as railway losses offset natural resource gains

Published 2017-07-26, 11:03 a/m
© Reuters.  CANADA STOCKS-TSX flat as railway losses offset natural resource gains
BRKa
-
GSPTSE
-
HCG
-
L
-
CNI
-
CP
-
SHOP
-

* TSX down 5.31 points, or 0.03 percent, to 15,197.06

* Seven of the TSX's 10 main groups move higher

* Advancers outnumber decliners by 1.2-to-1 overall

TORONTO, July 26 (Reuters) - Canada's main stock index was little changed in morning trade on Wednesday, as losses for railway stocks were offset by gains among natural resource companies.

The most influential movers on the index included Canadian National Railway Co CNR.TO , which fell 2.3 percent to C$99.17 despite reporting profit and revenue that beat expectations after the closing bell on Tuesday. smaller rival, Canadian Pacific Railway Ltd CP.TO , also dipped, falling 1.4 percent to C$196.31.

Grocery chain operator Lowbaw's Cos Ltd L.TO fell 4.3 percent to C$68.39 after barely beating profit expectations, while electronics manufacturer Celestica Inc lost 4.1 percent to C$16.11 after its earnings missed forecasts. energy group, which accounts for one-fifth of the index's weight, climbed 0.5 percent as oil prices rose to near eight-week highs. materials group, which includes precious and base metals miners and fertilizer companies, added 0.3 percent, while the industrials group declined 0.9 percent.

At 10:23 a.m. ET (1423 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 5.31 points, or 0.03 percent, at 15,197.06.

Share price losses of oil and gas companies so far this year have weighed on the index, which is trading lower than where it ended 2016.

Seven of the index's 10 main groups were in positive territory, with advancers barely outnumbering decliners overall.

Shares in Home Capital Group Inc HCG.TO rose as much as 4.5 percent after the company said it had repaid the outstanding balance on a C$2 billion ($1.6 billion) loan provided by Warren Buffett's Berkshire Hathaway (NYSE:BRKa) BRKa.N . However, they later retreated and were last down 0.8 percent at C$14.47.

E-commerce company Shopify SHOP.TO advanced 3.1 percent to C$118.68 as investors position for a positive surprise from its upcoming earnings report.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.