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TSX bounces after selloff, but energy stocks extend declines

Published 2020-10-29, 11:40 a/m
© Reuters. The facade of the original Toronto Stock Exchange building is seen in Toronto
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(Reuters) - Canada's main stock index rose on Thursday after tumbling in the previous session, led by a bounce in materials and financial stocks, although the energy sector extended its declines on weaker oil prices.

* At 10:55 a.m. ET (1455 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 92.59 points, or 0.59%, at 15,679.16. The index fell 2.7% in the previous session on worries of a second wave of coronavirus infections.

* Nine of the index's 11 major sectors were higher, led by materials and financials stocks, which gained more than 1% each.

* The energy sector dropped 1.4% as U.S. crude prices were down 3.6% a barrel, while Brent crude lost 3.4%. [O/R]

* Cenovus Energy Inc reported its third straight quarterly loss, just days after announcing a buyout of rival Husky Energy Inc, as the pandemic-driven oil crash continues to weigh on the oil industry.

* On the TSX, 178 issues were higher, while 43 issues declined for a 4.14-to-1 ratio favouring gainers, with 70.78 million shares traded.

* The largest percentage gainers on the TSX were Alamos Gold Inc, which jumped 11.9% after third-quarter earnings beat estimates, and Teck Resources Ltd, which rose 5%.

* OceanaGold Corp fell 8.1%, the most on the TSX, after reporting a higher quarterly loss.

* The most heavily traded shares by volume were Husky Energy Inc, Cenovus Energy Inc and Suncor Energy Inc.

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

* Across all Canadian issues, there were two new 52-week highs and 15 new lows, with a total volume of 117.34 million shares.

© Reuters. The facade of the original Toronto Stock Exchange building is seen in Toronto

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