Canada markets closed
  • S&P/TSX

    20,633.27
    -128.76 (-0.62%)
     
  • S&P 500

    4,538.43
    -38.67 (-0.84%)
     
  • DOW

    34,580.08
    -59.71 (-0.17%)
     
  • CAD/USD

    0.7786
    -0.0022 (-0.28%)
     
  • CRUDE OIL

    66.22
    -0.28 (-0.42%)
     
  • BTC-CAD

    60,900.85
    -12,303.71 (-16.81%)
     
  • CMC Crypto 200

    1,367.14
    -74.62 (-5.18%)
     
  • GOLD FUTURES

    1,782.10
    +21.40 (+1.22%)
     
  • RUSSELL 2000

    2,159.31
    -47.02 (-2.13%)
     
  • 10-Yr Bond

    1.3430
    -0.1050 (-7.25%)
     
  • NASDAQ

    15,085.47
    -295.85 (-1.92%)
     
  • VOLATILITY

    30.67
    +2.72 (+9.73%)
     
  • FTSE

    7,122.32
    -6.89 (-0.10%)
     
  • NIKKEI 225

    28,029.57
    +276.20 (+1.00%)
     
  • CAD/EUR

    0.6878
    -0.0027 (-0.39%)
     

CANADA STOCKS-Toronto index rises as Suncor earnings boosts energy stocks

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Updates prices, adds analyst comment)

By Amal S

Oct 28 (Reuters) - Canada's main stock index rose on Thursday, rebounding from its worst session in nearly a month, after upbeat earnings from Suncor Energy boosted oil and gas shares.

At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 48.27 points, or 0.23%, at 21,003.26, rebounding from its worst session since Sept. 28 after the Bank of Canada signaled it could raise interest rates sooner than previously thought.

Energy stocks were up 1.6% as shares in Suncor Energy jumped 9%, a day after the country's No. 2 oil and gas major doubled its dividend. A rebound in crude prices from pandemic-driven lows helped it post a third-quarter profit compared with a year-ago loss.

Meanwhile, Shopify Inc fell 1.0% after the e-commerce giant reported third-quarter results that fell short of analysts' expectations, dragging the broader technology sector down 0.1%

"Shopify is among the biggest tech companies in Canada and its missing forecasts could have a broader impact to the tech base in Canada for a little bit," said Gregory Taylor, a portfolio manager at Purpose Investments.

Limiting gains was the materials sector, down 0.5%, with Alamos Gold Inc being the biggest decliner on the index after the gold miner reported dismal quarterly earnings.

Shares in Bombardier Inc were up 1.4% as the company posted a smaller second-quarter loss, helped by a rebound in demand for private jets from corporations and wealthy buyers.

HIGHLIGHTS

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

Across all Canadian issues there were 10 new 52-week highs and 21 new lows, with total volume of 42.04 million shares.

(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting