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TSX climbs after upbeat earnings from Shopify, Enbridge

Published 2020-07-29, 10:26 a/m
Updated 2020-07-29, 10:30 a/m
© Reuters.

July 29 (Reuters) - Canada's main stock index rose on Wednesday after a slew of upbeat earnings reports from those including e-commerce company Shopify Inc SHOP.TO and pipeline operator Enbridge Inc ENB.TO .

* Technology sector .SPTTTK rose 3% boosted by Shopify Inc, which jumped 9.6%, after posting quarterly revenue and profit above estimates. Enbridge gained 2% after reporting quarterly profit higher than analysts' expectations. At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 92.33 points, or 0.57%, at 16,213.65.

* The largest percentage gainer on the TSX was Element Fleet Management Corp EFN.TO , which jumped 14%, after the company reported quarterly results.

* Its gains were followed by Celestica Inc CLS.TO , which rose 12.8%, after the chipmaker posted second-quarter revenue above analysts' expectations.

* On the TSX, 75 issues were higher, while 137 issues declined for a 1.83-to-1 ratio to the downside, with 15.76 million shares traded.

* The energy sector .SPTTEN dropped 0.3%. U.S. crude CLc1 prices were up 0.7% a barrel, while Brent crude LCOc1 added 1.0%. O/R

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 0.6%. GOL/

* Aphria Inc APHA.TO fell 13.8%, the most on the TSX, after cannabis producer reported bigger-than-expected loss.

* The second biggest decliner was Cameco Corp CCO.TO , down 9.4%, after the uranium producer posted disappointing quarterly results.

* The most heavily traded shares by volume were Aphria, aerospace and defense company Avcorp Industries Inc AVP.TO and Bank of Montreal BMO.TO .

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

* Across all Canadian issues there were 25 new 52-week highs and three new lows, with total volume of 33.39 million shares.

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