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TSX flat as tech gains offset losses in financials

Published 2019-05-28, 10:03 a/m
© Reuters.  TSX flat as tech gains offset losses in financials
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May 28 (Reuters) - Canada's main stock index treaded water on Tuesday, as losses in financials were offset by gains in the technology sector.

* At 9:41 a.m. ET (1341 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 2.86 points, or 0.02%, at 16,349.52.

* Six of the index's 11 major sectors were higher, led by gains in the technology sector .SPTTTK , which rose 1.2%, while financials .SPTTFS slipped 0.6%, the most among the sectors.

* Financials were hurt by a 2% decline in shares of Bank of Nova Scotia BNS.TO after the bank missed analysts' estimates for quarterly profit for the third time in a row. The technology sector was boosted by broad-based gains.

* The energy sector .SPTTEN dropped 0.3%, hurt by a 4% drop in shares of Enerflex Ltd EFX.TO after Raymond James cut its price target for the company's shares.

* Oil prices on the other hand rose, with U.S. crude CLc1 up 1.3% and Brent crude LCOc1 gaining 0.1%. O/R

* The materials sector .GSPTTMT , which includes precious and base metals miners, lost 0.1% as gold prices eased from one-week highs. GOL/

* On the TSX, 117 issues were higher, while 115 issues declined for a 1.02-to-1 ratio favouring gainers, with 18.88 million shares traded.

* The top percentage gainers on the TSX were shares of NFI Group Inc NFI.TO , which jumped 7.4%, followed by shares of Bombardier Inc BBDb.TO , which rose 4.4%.

* Enerflex fell the most on the TSX followed by Scotiabank .

* The most heavily traded shares by volume were Stornoway Diamond Corp SWY.TO , Suncor Energy SU.TO and Sun Life Financial SLF.TO .

* The TSX posted 11 new 52-week highs and no new low.

* Across all Canadian issues there were 42 new 52-week highs and three new lows, with total volume of 31.58 million shares.

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