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TSX edges higher as gains in energy shares offset losses in mining stocks

Published 2019-06-26, 10:26 a/m
Updated 2019-06-26, 10:30 a/m
© Reuters.  TSX edges higher as gains in energy shares offset losses in mining stocks

June 26 (Reuters) - Canada's main stock index edged higher on Wednesday, as gains in energy shares offset declines in mining stocks and software maker BlackBerry.

* At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 12.45 points, or 0.08%, at 16,383.73.

* Meanwhile, Wall Street opened higher, as chipmaker Micron (NASDAQ:MU) Technology's upbeat results lifted technology shares and Treasury Secretary Steven Mnuchin's comments fueled optimism that the United States and China would strike a trade deal. .N

* Five of the index's 11 major sectors were higher, led by the energy sector's .SPTTEN 1.6% rise.

* U.S. crude CLc1 prices were up 2.4% per barrel, while Brent crude LCOc1 added 1.5%, partly buoyed by an outage at a major refinery on the U.S. East Coast. O/R

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 1% as gold futures GCc1 fell 0.4% to $1,409.6 an ounce. GOL/ MET/L

* The heavyweight financials sector .SPTTFS gained 0.2%, while the industrials sector .GSPTTIN dipped 0.1%.

* On the TSX, 112 issues were higher, while 113 issues declined for a 1.01-to-1 ratio to the downside, with traded volumes touching 15.09 million shares.

* The largest percentage gainers on the TSX were Baytex Energy Corp BTE.TO , which jumped 4.5%, and Kelt Exploration Ltd KEL.TO , which rose 3.6%.

* Blackberry Ltd BB.TO fell 4.6%, the most on the TSX, after reporting quarterly results. The second biggest decliner was Barrick Gold ABX.TO , which fell 2.6%, as the world's No. 2 gold miner said some assumptions made by Acacia Mining ACAA.L about its mine plans were not supportable and needed adjustments. The most heavily traded shares by volume were Essential Energy Services Ltd ESN.TO , Barrick Gold and Blackberry.

* The TSX posted no new 52-week high and no new low.

* Across all Canadian issues, there were five new 52-week highs and six new lows, with total volumes touching 27.26 million shares.

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