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TSX rises as U.S.-Iran tensions ease

Published 2020-01-08, 10:51 a/m
TSX rises as U.S.-Iran tensions ease

(Reuters) - Canada's stock index edged higher on Wednesday, as Iran signaled that overnight missile strikes "concluded" its retaliation to the U.S. killing of General Qassem Soleimani, while markets awaited the White House's statement on the matter.

* Iranian forces fired missiles at military bases housing U.S. troops in Iraq on Wednesday. However, the United States said it was not aware of any casualties from the strike .

* Limiting gains in the market was the energy sector (SPTTEN) falling 0.5%, as U.S. crude (CLc1) prices were down 0.7% a barrel and Brent crude (LCOc1) down 0.3%. [O/R]

* At 9:50 a.m. ET (14:50 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 18.98 points, or 0.11%, at 17,187.04.

* The technology sector (SPTTTK), up 0.6%, was the biggest percentage gainer among the major Canadian indexes, with software developer Lightspeed POS Inc (TO:LSPD) leading gains.

* On the TSX, 126 issues were higher, while 100 issues declined for a 1.26-to-1 ratio favoring gainers, with 26.91 million shares traded.

* The largest percentage gainer on the TSX was oil and gas explorer Freehold Royalties (TO:FRU), which jumped 5%, after TD Securities upgraded the stock.

* Linamar Corp (TO:LNR) fell 7.4%, the most on the TSX, after the company flagged lower industry volumes and weaker market conditions.

* The most heavily traded shares by volume were Aurora Cannabis (TO:ACB), Bank Of Nova Scotia (TO:BNS) and Toronto-Dominion Bank (TO:TD).

* The TSX posted nine new 52-week highs and three new lows.

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* Across all Canadian issues there were 20 new 52-week highs and eight new lows, with total volume of 43.95 million shares.

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