Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

CANADA STOCKS-Technology shares drive gains on TSX

Published 2018-11-07, 10:17 a/m
Updated 2018-11-07, 10:21 a/m
© Reuters.  CANADA STOCKS-Technology shares drive gains on TSX

Nov 7 (Reuters) - Canada's main stock index rose on Wednesday, after robust quarterly results in some technology companies improved market sentiment.

* At 9:36 a.m. ET (1436 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 71.06 points, or 0.46 percent, at 15,363.77.

* Six of the index's 11 major sectors were higher, led by the technology stocks .SPTTTK , which jumped over 2 percent.

* Helping tech was a 4.6 percent rise in CGI GIBa.TO shares and a 7.3 percent jump in shares of Solium Capital Inc SUM.TO as both companies posted upbeat quarterly results.

* The energy sector .SPTTEN rose 1.6 percent, after oil prices rebounded to $73 a barrel, buoyed by a report that Russia and Saudi Arabia are discussing whether to cut crude output next year. O/R

* U.S. crude CLc1 prices were up 0.5 percent, while Brent crude LCOc1 added 0.9 percent.

* The Canadian dollar strengthened against the greenback, which broadly fell after the results of the U.S. midterm congressional elections and as oil prices rose. On the TSX, 181 issues were higher, while 54 issues declined for a 3.35-to-1 ratio favouring gainers, with volumes touching 13.42 million shares.

* Top percentage gainer on the TSX was Home Capital Group HCG.TO , which jumped 17.5 percent after quarterly earnings beat estimates.

* Keyera Corp KEY.TO fell 10.3 percent, the most on the TSX, after posting quarterly earnings that fell below expectations.

* The most heavily traded shares by volume were shares of cannabis firms Aurora Cannabis ACB.TO , up 4.1 percent, Aphria Inc APHA.TO , up 3.3 percent, and The Green Organic Dutchman Holdings TGOD.TO , up 4.3 percent.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

* Cannabis stocks may have also been boosted by news of another state in the United States, Michigan, legalising marijuana and as Mexico moved towards a major rollback of a prohibition on the drug. The TSX posted one new 52-week high and seven new lows.

* Across all Canadian issues, there were three new 52-week highs and 10 new lows, with total volume touching 20.64 million shares.

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.