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CANADA STOCKS-TSX edges up as energy, materials gain

Published 2018-07-24, 10:24 a/m
© Reuters.  CANADA STOCKS-TSX edges up as energy, materials gain

July 24 (Reuters) - Canada's main stock index edged up on Tuesday, as energy stocks gained from steadying oil prices while materials were lifted by slightly higher gold.

* At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 75.21 points, or 0.46 percent, at 16,496.05.

* Nine of the index's 11 major sectors were higher, led by the energy sector .SPTTEN , which climbed 0.9 percent.

* Oil prices steadied as tension between the United States and Iran highlighted risks to supply and trade disputes raised prospects for slower economic growth and weaker energy demand. U.S. crude CLc1 and Brent crude LCOc1 prices added 0.3 percent each. O/R

* The materials sector .GSPTTMT , which includes precious and base metals miners, added 1.3 percent as gold ticked higher and aluminium hit a two-week high. GOL/ MET/L

* Gold rose as the U.S. dollar slipped, but struggled to stabilise after weeks of losses. On the earnings front, Canadian National Railway Co CNR.TO is set to post its quarterly results after market close. The company earlier on Tuesday gave interim Chief Executive Officer Jean-Jacques Ruest the role on a permanent basis. Shares of Canadian National Railway gained 0.3 percent.

* The chief trade negotiator of the incoming Mexican administration, Jesus Seade, said he expected the renegotiation of NAFTA to be agreed in the next few months. The financials sector .SPTTFS also added 0.4 percent.

* On the TSX, 174 issues were higher, while 64 issues declined for a 2.72-to-1 ratio favouring gainers, with 12.24 million shares traded.

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* Top percentage gainers on the TSX were shares of First Quantum Minerals FM.TO , which jumped 6.4 percent, and Lundin Mining LUN.TO , which rose 5.8 percent.

* Torex Gold Resources TXG.TO fell 16.5 percent to become top decliner on the TSX after a downgrade from TD Securities. Gildan Activewear GIL.TO , down 4.7 percent, was the second-biggest decliner.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Trevali Mining TV.TO and Hudbay Minerals HBM.TO .

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

* Across all Canadian issues, there were 11 new 52-week highs and 12 new lows, with total volume of 17.97 million shares.

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