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TSX ends up 0.2% at 25,279.35
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Energy group adds 1.1% as oil settles off lows
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Tech gains 1%, with Celestica ( CLS ) up 7.3%
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TMX Group ( TMXXF ) jumps 8.3% after earnings beat
(Updates at market close)
By Fergal Smith
Feb 4 (Reuters) - Canada's main stock index rose on
Tuesday, led by energy and technology shares, as investors took
advantage of a recent pullback in the market that was brought
about by the threat of U.S. trade tariffs.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 37.59 points, or 0.2%, at 25,279.35. That
followed two straight days of declines in volatile trading since
the index notched a record closing high on Thursday.
U.S. President Donald Trump suspended his threat of steep
tariffs on Mexico and Canada on Monday, agreeing to a 30-day
pause. The reprieve for Canada came after the market's close on
Monday.
"Canada is rebounding quite nicely today," said Kevin
Headland, co-chief investment strategist at Manulife Investment
Management.
"Many people were selling off in anticipation of the
uncertainty that tariffs might bring and now investors are
looking for some of the opportunities that the brief sell-off
might have presented."
The energy group was up 1.1%, helped by a gain of 4.4% for
the shares of Cenovus Energy ( CVE ). U.S. crude oil futures
settled down 0.6% at $72.70 a barrel but were well off
their lows for the day.
Technology rose 1%, helped by a gain of 7.3% for the shares
of Celestica Inc. ( CLS ) Consumer staples ended 0.8% higher,
with shares of dairy products producer Saputo Inc ( SAPIF )
adding nearly 2%.
TMX Group Ltd ( TMXXF ) was among the biggest advancers. Its
shares rose 8.3% as the stock exchange operator reported
fourth-quarter profit and revenue above estimates.
Despite the gains for TMX, heavily weighted financials fell
0.9%. Investors worry that lingering trade uncertainty could
weigh on the domestic economy.