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CANADA STOCKS-TSX flat in thin trading ahead of Christmas

Published 25/12/2019, 02:29 am
© Reuters.  CANADA STOCKS-TSX flat in thin trading ahead of Christmas
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Dec 24 (Reuters) - Canada's main stock index idled near record highs on Tuesday in thin trading ahead of Christmas as gains in energy shares were offset by losses in financials and cannabis producers.

* At 09:58 a.m. ET (14:58 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 4.85 points, or 0.03%, at 17,123.86.

* Still, the index is trading near all-time highs hit earlier this week on hopes of an end to the bruising U.S.-China trade war and was on course for its best annual gains in a decade.

* Gains in oil prices boosted energy shares by 0.7%. Brent crude LCOc1 rose 0.45% after Russia said cooperation with the OPEC on supply cuts would continue and on signs Saudi Arabia and Kuwait could take as much as a year to bring a major field back to full capacity. O/R

* Material stocks .GSPTTMT were lifted by gold prices, which rose after weak U.S. data. OceanaGold Corp OGC.AX , Torex Gold Resources TXG.TO and Iamgold Corp IMG.TO rose between 3% and 5%. GOL/

* Among the weak spots, Aurora Cannabis ACB.TO shares fell 3% to hit a more than two-year low, adding to recent losses after the firm announced the departure of chief corporate officer Cam Battley. The healthcare sector .GSPTTHC was down over 1%.

* Shares in Correvio Pharma Corp CORV.TO fell 8% after the U.S. FDA declined to approve the company's drug to correct irregular rhythm in the upper chambers of the heart. Declines for banks including Bank of Nova Scotia BNS.TO and Toronto-Dominion Bank TD.TO dragged the financial sector .SPTTFS down by 0.4%.

* The TSX posted nine new 52-week highs and one new low.

* Across all Canadian issues there were 34 new 52-week highs and three new lows, with total volume of 37.27 million shares.

* On the TSX, 119 issues were higher, while 105 issues declined for a 1.13-to-1 ratio favoring gainers, with 19.55 million shares traded.

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