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CANADA STOCKS-TSX recovers on better corporate earnings

Published 2018-10-25, 10:27 a/m
© Reuters.  CANADA STOCKS-TSX recovers on better corporate earnings

Oct 25 (Reuters) - Canada's main stock index rose on Thursday as better corporate earnings helped the market recover from the biggest one-day decline in three years on Wednesday.

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 49.97 points, or 0.34 percent, at 14,959.1.

* Eight of the index's 11 major sectors were higher, led by the 1.1 percent gain in the energy sector .SPTTEN .

* Oil prices stabilised with U.S. crude CLc1 prices rising 0.2 percent a barrel, while Brent crude LCOc1 added 0.3 percent. O/R .

* Shopify SHOP.TO , SHOP.N jumped 10 percent after reporting a surprise quarterly profit as more subscribers and merchants signed up to use its platform. Shaw Communications SJRb.TO edged 1 percent higher after telecom services provider's quarterly profit topped analysts' estimates as it added more customers to its wireless offerings. Oil and gas producer Husky Energy HSE.TO dropped 1.6 percent despite a better-than-expected quarterly profit, which was boosted by higher crude oil prices. The financials sector .SPTTFS gained 0.2 percent. The industrials sector .GSPTTIN edged up 0.1 percent.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.1 percent as gold futures GCc1 rose 0.9 percent to $1,238.6 an ounce. GOL/ MET/L

* The largest percentage gainers on the TSX were Crescent Point CPG.TO , which jumped 8.5 percent after results, followed by Shopify Inc SHOP.TO shares.

* Goldcorp G.TO fell 9.1 percent, the most on the TSX, after the gold producer posted a bigger-than-expected loss in third quarter. The second biggest decliner was Celestica CLS.TO , down 8.2 percent, after the electronics company missed quarterly earnings estimate.

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* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Bombardier BBDb.TO and Goldcorp G.TO .

* On the TSX, 166 issues were higher, while 69 issues declined for a 2.41-to-1 ratio favouring gainers, with 16.98 million shares traded.

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

* Across all Canadian issues, there were two new 52-week highs and 58 new lows, with total volume of 24.37 million shares.

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