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TSX gains on boost from tech stocks

08/03/2021 | 10:09am EDT
FILE PHOTO: A sign board displaying Toronto Stock Exchange stock information is seen in Toronto

(Reuters) - Canada's main stock index rose on Tuesday after a long weekend, with technology stocks leading the gains, while official data showed domestic factory activity in July grew at its slowest pace in five months.

* The technology sector gained 1.2% with major tech stocks including Shopify Inc and Constellation Software Inc among the top contributors.

* Canadian factory activity in July grew at the slowest pace in five months as supply chain pressures brought on by the COVID-19 pandemic weighed, data showed. However, the rate of expansion remained firm.

* At 9:41 a.m. ET (13:41 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 43.24 points, or 0.21%, at 20,331.04.

* The energy sector dropped 1.5% as U.S. crude prices were down 1.8% a barrel, while Brent crude lost 1.5%. [O/R]

* The financials sector gained 0.1%. The industrials sector rose 0.2%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.7% as gold futures fell 0.4% to $1,811 an ounce. [GOL/]

* On the TSX, 96 issues were higher, while 129 issues declined for a 1.34-to-1 ratio to the downside, with 21.03 million shares traded.

* The largest percentage gainers on the TSX were e-commerce giant Shopify Inc, which jumped 4%, and forest products company Canfor Corp, which rose 3.9%.

* Bausch Health Cos Inc fell 4.9%, the most on the TSX, after the drugmaker said it planned to pursue an initial public offering of its medical aesthetics business Solta Medical.

* The second biggest decliner was miner Lithium Americas, down 4.5%.

* The most heavily traded shares by volume were Bank of Montreal, Suncor Energy Inc, and Tamarack Valley Energy Ltd.

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

* Across all Canadian issues there were 89 new 52-week highs and five new lows, with total volume of 42.93 million shares.

(Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2021
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