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CANADA STOCKS-TSX little changed as Shopify drop offsets broader gains
October 4, 2017 / 3:23 PM / 2 months ago

CANADA STOCKS-TSX little changed as Shopify drop offsets broader gains

* TSX up 7.7 points, or 0.05 percent, to 15,736.21

* Eight of the TSX’s 10 main groups were up

TORONTO, Oct 4 (Reuters) - Canada’s main stock index was little changed on Wednesday as a sharp fall in online retail platform Shopify Inc shares were offset by broader gains led by natural resource companies.

Shopify, which was the most influential mover on the index, fell 8.8 percent to C$132.95 after short-seller Citron Research commented negatively about the company. The overall information technology group retreated 1.3 percent.

At 10:46 a.m. ET (1446 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 7.64 points, or 0.05 percent, to 15,736.15.

Of the index’s 10 main groups, eight were in positive territory.

The materials sector, which includes miners and fertilizer companies, added 0.8 percent as gold and other metal prices rose. Franco Nevada Corp increased 1.8 percent to C$99.01.

The energy group advanced 0.2 percent after U.S. weekly crude inventory data helped lift U.S. crude prices 0.4 percent to $50.60 a barrel.

The financials sector gained 0.1 percent. Intact Financial Corp rose 1.6 percent to C$102.45.

Industrials fell 0.6 percent. Waste Connection Inc fell 2.6 percent to C$86.02.

Advancing issues outnumbered declining ones on the TSX by 152 to 92, for a 1.65-to-1 ratio on the upside. (Reporting by Solarina Ho; Editing by W Simon)

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