CANADA STOCKS-TSX lifted by strong corporate earnings - Southern Business Review

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Tuesday, February 5, 2019

CANADA STOCKS-TSX lifted by strong corporate earnings

Feb 5 (Reuters) - Canada’s main stock index rose on Tuesday, as upbeat quarterly results from WestJet Airlines Ltd and others boosted sentiment.


* At 9:44 a.m. ET (1444 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 45.62 points, or 0.29 percent, at 15,647.94.


* WestJet Airlines rose 2.4 percent after reporting a quarterly profit that beat analysts’ estimates, as a rise in passenger traffic helped offset an increase in expenses.


* The industrials sector gained 0.5 percent.


* Absolute Software Corp climbed 6.4 percent, helping lift the technology sector 0.4 percent, after the company beat quarterly profit estimates and forecast strong full-year revenue.


* Nine of the index’s 11 major sectors were higher.


* The energy sector dipped 0.1 percent on lower oil prices as U.S. crude prices fell 1.2 percent and Brent crude lost 0.8 percent.


* The financials sector gained 0.3 percent.


* On the TSX, 151 issues were higher, while 81 issues declined for a 1.86-to-1 ratio favouring gainers, with 26.23 million shares traded.


* The largest percentage gainers on the TSX were shares of Canada Goose Holdings, which jumped 3.5 percent, followed by Alacer Gold Corp, which rose 3.2 percent.


* Cronos Group Inc fell 7.4 percent, the most on the TSX, and the second biggest decliner was Aphria Inc , down 4.4 percent. The cannabis firms cooled off after a two-day rally.


* The most heavily traded shares by volume were Aurora Cannabis, Aphria Inc and Bombardier.


* The TSX posted 12 new 52-week highs and one new low.


* Across all Canadian issues there were 22 new 52-week highs and four new lows, with total volume of 39.03 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila)