* Shopify ( SHOP ) top gainer
* Energy shares among biggest decliners
* Altus Group ( ASGTF ) names new CFO
By Sudeshna Ghoshal
July 27 (Reuters) - Canada's main stock index was largely
unchanged on Monday, as investors assessed strength in tech
against a decline in energy stocks after oil prices retreated
following a pause in strikes between the U.S. and Iran over the
weekend.
The S&P/TSX Composite Index was flat at 35,475.08
points by 10:40 a.m. ET.
* Technology shares were among the biggest
gainers, adding 2.8%
* Shopify ( SHOP ) jumped 7.8%, while Open Text Corp ( OTEX )
and Descartes Systems ( DSGX ) added 5.5% and 4.7%
respecitvely.
* Consumer discretionary and real estate shares
also contributed to gains, adding 0.9% and 0.7%,
respectively.
* But energy shares took a hit as oil prices
tumbled after Washington and Tehran paused fighting over the
weekend.
* Investors were also awaiting second-quarter results from
technology firm Celestica ( CLS ) and energy infrastructure
company Gibson Energy ( GBNXF ), among other companies, due after
the closing bell.
* "Earnings season will continue to be constructive. And I
think the focus can just be more on corporate earnings than
geopolitical tensions," said Michael Dehal, a senior portfolio
manager at Dehal Investment Partners at Raymond James.
* Real estate firm Altus Group ( ASGTF ) appointed Katie
Royce as the new CFO, effective August 3. Shares of the company
gained more than 3%.
* Separately, markets are contending with U.S. President
Donald Trump's vowto implement tariffs on Canada, in retaliation
for smoke from wildfires that has drifted into the U.S.
* "If tariffs go wider into other sectors and goods and
services, that could be a bit more detrimental to the Canadian
economy, given how much we export to the U.S.," Dehal said.
* Markets are also awaiting the interest rate decision from
the Federal Reserve. Investors expect rates to be left unchanged
this week, but are pricing in at least 25 basis points of rate
hikes later this year, LSEG-compiled data showed.