July 30(Reuters) - Canada's main stock index edged higher in
choppy trading on Thursday, as gains in mining and heavyweight
financial stocks were countered by losses in technology and
industrials shares.
The Toronto Stock Exchange's S&P/TSX Composite index
edged 0.1% higher to 35,374.4 points by 10:43 a.m. ET.
* Information technology stocks dipped 2.2%,
pressured by a 14.5% fall in shares of Lightspeed Commerce ( LSPD )
after the payments software firm missed first quarter
profit estimates.
* Industrials lost 2.1%, with shares of
software-related firm Thomson Reuters ( TMSOF ) down 7.1% after
surging more than 23% in the last four sessions.
* Financials gained 1%, with lenders TD Bank
, Royal Bank of Canada ( RY ) and National Bank of
Canada ( NTIOF ) climbing more than 1% each.
* Materials gained 1.6%, with miners leading
gains as gold prices rose against a softer dollar.
* Risk sentiment also improved after data showed U.S.
inflation slowed in June, a day after the U.S. Federal Reserve
held its main lending rate steady.
* "Despite moderating inflation, strong domestic activity
across consumption and business investment will keep the Fed
diligent about the risks overheating could have on the inflation
trajectory. We continue to expect the Fed to be patient as it
awaits more inflation data," said Ellen Zentner, chief economic
strategist for Morgan Stanley Wealth Management.
* The Bank of Canada also left interest rates unchanged at
its July 15 meeting, and predicted the economy would grow by
2.5% on an annual basis in the second quarter after grinding to
a halt in the first quarter.
* Meanwhile, shares of Bausch Health ( BHC ) jumped more
than 28%, leading gains on the main index, after the drugmaker
beat second-quarter earnings estimates and raised 2026 outlook.
* Jet maker Bombardier reported
better-than-expected second-quarter profit and posted a positive
free cash flow for the second quarter. Its shares however, were
last down 2.9%.