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TSX steady at nine-month high as tech, mining gains offset by energy losses

Stock MarketsNov 26, 2020 10:12
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© Reuters. FILE PHOTO: The facade of the original Toronto Stock Exchange building is seen in Toronto

(Reuters) - Canada's main stock index traded flat on Thursday, hovering around nine-month highs as declines in energy stocks were offset by gains in major technology and mining players, while a U.S. market holiday kept trading volumes low.

At 9:39 a.m. ET (1439 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 2.75 points, or 0.02%, at 17,315.82.

The energy sector dropped 0.2%, tracking declines in crude prices as signs of growing supplies helped to halt a rally driven by optimism over COVID-19 vaccines. [O/R]

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.5% as gold and base metal prices rose against a weaker dollar. [GOL/] [MET/L]

The information technology sector, the second largest sector in the benchmark after financials, rose 0.2%.

On the TSX, 95 issues were higher, while 109 issues declined for a 1.15-to-1 ratio to the downside, with 10.31 million shares traded.

The largest percentage gainer on the TSX was BRP Inc, which jumped 4.5% after a series of price-target hikes on strong third-quarter results.

Equitable Group fell 2.2%, the most on the TSX, while the second biggest decliner was Inter Pipeline, down 1.8%.

The most heavily traded shares by volume were Suncor Energy, Score Media and Gaming and Nevada Copper.

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

Across all Canadian issues there were 35 new 52-week highs and no new lows, with total volume of 24.95 million shares.

TSX steady at nine-month high as tech, mining gains offset by energy losses
 

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