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TSX ends up 0.2% at 27,364.43
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Materials group adds 2.5% as gold prices increase
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Energy gains 0.7%; oil settles 1.5% lower
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Technology falls 1.8%
(Updates at market close)
By Fergal Smith
July 22 (Reuters) - Canada's main stock index rose on
Tuesday as the materials sector got a boost from higher metal
prices and investors turned attention to the release of Canadian
corporate earnings.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 47.43 points, or 0.2%, at 27,364.43, stopping
just short of Thursday's record closing high.
"The market keeps climbing this wall of worry," said Greg
Taylor, chief investment officer at PenderFund Capital
Management.
"This is a big few weeks coming up for us as we hit
these tariff deadlines again and also the earnings season coming
on. I think earnings are going to be super-important and just
hearing some guidance around the tariffs is going to be a real
key."
Canada will use all the time that is available to strike a
trade deal with the United States, Prime Minister Mark Carney
told reporters. U.S. President Donald Trump has said the U.S.
would impose a 35% tariff on Canadian goods from August 1.
Railroad company Canadian National Railway Co. ( CNI ) was
due to report after the close.
The materials sector gained 2.5% as gold
and copper prices climbed.
Energy also ended higher, rising 0.7%, even as the
price of oil settled 1.5% lower at $66.21 a barrel.
Technology was a drag, falling 1.8%, with
e-commerce company Shopify Inc ( SHOP ) down 4.2%.