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TSX trades higher as materials more than offset energy losses

Published 2019-09-17, 10:27 a/m
Updated 2019-09-17, 10:30 a/m
© Reuters.  TSX trades higher as materials more than offset energy losses

Sept 17 (Reuters) - Canada's main stock index gave up early losses to trade higher on Tuesday after a rise in the materials sector more than offset a slide in energy shares.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE opened modestly lower after energy shares, hurt by a slide in oil prices, retreated from their biggest jump in nearly 11 years.

* At 10:03 a.m. ET (1403 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 25.62 points, or 0.15%, at 16,776.93.

* The energy sector .SPTTEN tumbled 2.5%, a day after surging 9%, as crude prices tumbled after sources told Reuters that Saudi Arabia's oil output will return faster than first thought following the weekend attacks on production facilities. Eight of the index's 11 major sectors were higher, led by the materials sector .GSPTTMT , which added nearly 2% as gold prices rose. GOL/ MET/L

* On the TSX, 128 issues were higher, while 100 issues declined for a 1.28-to-1 ratio favouring gainers, with 15.00 million shares traded.

* The largest percentage gainer on the TSX was Restaurant Brands QSR.TO , which rose 2.1%. Dream Industrial REIT DIR_u.TO , up 1.9%, was the second-biggest gainer.

* Ensign Energy Services ESI.TO fell 3.7%, the most on the TSX, followed by Teck Resources TECKb.TO , which dropped 3.2%.

* The most heavily traded shares by volume were Baytex Energy Co BTE.TO and Encana Corp ECA.TO .

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

* Across all Canadian issues, there were seven new 52-week highs and three new lows, with total volume of 23.83 million shares.

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