Toronto Stocks Push Higher on Broad Gains, Snapping Losing Streak

By Robb M. Stewart

Shares on Canada's main exchange snapped a three-day losing streak Friday as investors dove into earnings from companies across North America.

In midday trading, the Toronto Stock Exchange's S&P/TSX Composite Index was 0.6% higher at 22750.58, with technology and finance stocks leading broad gains and more than offsetting weakness in the energy sector. The benchmark index has finished lower in six of the last seven trading sessions since hitting a fresh all-time high early last week.

The blue-chip S&P/TSX 60 was ahead 0.6% at 1359.19.

Computershare was one of the drivers of the market's strength, gaining 1% to widen its year-to-date gain to 13%.

The major banks were all higher, led by gains of 1% or more by Canadian Imperial Bank of Commerce and Royal Bank of Canada.

Other market movers:

Canfor was 0.8% lower at C$15.04 after it reported a wider-than-expected underlying loss in the second quarter, while majority owned Canfor Pulp Products was steady at C$1.01 after its second-quarter loss narrowed.

With oil prices down amid expectations of a Gaza ceasefire, which would ease global supply concerns, Athabasca Oil was down 0.8% at C$5.31, Canadian Natural Resources fell 0.8% to C$47.24 and Cenovus Energy was 1.4% lower at C$26.94.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

07-26-24 1226ET