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Materials drive TSX higher, Husky falls on weak results

Published 2019-10-24, 10:20 a/m
Materials drive TSX higher, Husky falls on weak results

(Reuters) - Canada's main stock index rose on Thursday as gains in shares of gold miners and a string of positive earnings helped offset a drop in Husky Energy following disappointing results.

* At 9:55 a.m. ET (13:55 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 67.37 points, or 0.41%, at 16,403.3.

* Better-than-expected results from Canadian Pacific Railway Ltd (TO:CP), Teck Resources Ltd and Agnico Eagle Mines Ltd (TO:AEM) pushed their shares between 1% and 3.5% higher.

* Ten of the index's 11 major sectors gained, with the materials sector (GSPTTMT), which includes precious and base metals miners, leading the rally on the back of higher gold prices.

* The energy sector (SPTTEN) made the smallest gains, up 0.1%, as higher oil prices were offset by a 4% slump in shares of Husky Energy Inc (TO:HSE) after it reported a 50% drop in quarterly profit.

* The financials sector (SPTTFS) gained 0.2%, while the industrials sector (GSPTTIN) rose 0.9%.

* On the TSX, 157 issues were higher, while 70 issues declined for a 2.24-to-1 ratio favoring gainers, with 15.34 million shares traded.

* The largest percentage gainers on the TSX were Mullen Group Ltd (TO:MTL), up 8.9%, and Agnico Eagle Mines (TO:AEM), up 4.6%.

* Firstservice Crp (TO:FSV) fell 3.1%, the most on the TSX.

* The most heavily traded shares by volume were Coro Mining Corp (TO:COP), Royal Bank of Canada (TO:RY), and Bank Of Montreal (TO:BMO).

* The TSX posted three new 52-week highs and no new lows.

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* Across all Canadian issues there were 15 new 52-week highs and five new lows, with total volume of 24.07 million shares.

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