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CANADA STOCKS-TSX bounces as techs rise, slowdown concerns ease

Published 2019-08-16, 10:49 a/m
© Reuters.  CANADA STOCKS-TSX bounces as techs rise, slowdown concerns ease
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Aug 16 (Reuters) - Canada's main stock index attempted to bounce back from a two-day slide on Friday, as expectations of further stimulus from global central banks eased concerns of an economic slowdown.

Technology led the index higher to end a brutal week for global markets, which was fueled by recession worries that intensified after the U.S. Treasury yield curve inverted for the first time since 2007. MKTS/GLOB

* At 9:46 a.m. ET (1346 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 73.16 points, or 0.46%, at 16,085.69.

* TSX hit a five-month low in the previous session and was on track to end the week lower after the inversion of Canada's yield curve by the most in nearly two decades.

* Of the index's 11 major sectors, 10 were trading higher, led by the technology sector .SPTTTK .

* The energy sector .SPTTEN climbed 0.7% as oil prices edged higher.

* The financials sector .SPTTFS gained 0.7% while the industrials sector .GSPTTIN rose 0.3%.

* The materials sector .GSPTTMT was the only sector in the red, falling 0.3%, as gold prices fell as much as 1% weighed down by gains in equities and the dollar. GOL/

* On the TSX, 166 issues were higher, while 67 issues declined for a 2.48-to-1 ratio favoring gainers, with 18.05 million shares traded.

* The largest percentage gainers on the TSX were cannabis producers Aphria Inc APHA.TO , which jumped 4.5%, followed by gains in Hexo Corp HEXO.TO , which rose 4.4%.

* Bombardier BBDb.TO fell 3.1%, the most on the TSX, after Goldman Sachs (NYSE:GS) cut its rating on the planemaker's stock.

* The most heavily traded shares by volume were Bombardier, Aurora Cannabis ACB.TO and Stornoway Diamond Corp SWY.TO .

* The TSX posted six new 52-week highs and three new lows.

* Across all Canadian issues, there were 12 new 52-week highs and 17 new lows, with total volume of 30.81 million shares.

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