July 29, 2020 / 2:27 PM / 7 days ago

CANADA STOCKS-TSX climbs after upbeat earnings from Shopify, Enbridge

July 29 (Reuters) - Canada’s main stock index rose on Wednesday after a slew of upbeat earnings reports from those including e-commerce company Shopify Inc and pipeline operator Enbridge Inc.

* Technology sector rose 3% boosted by Shopify Inc, which jumped 9.6%, after posting quarterly revenue and profit above estimates.

* Enbridge gained 2% after reporting quarterly profit higher than analysts’ expectations.

* At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 92.33 points, or 0.57%, at 16,213.65.

* The largest percentage gainer on the TSX was Element Fleet Management Corp, which jumped 14%, after the company reported quarterly results.

* Its gains were followed by Celestica Inc, which rose 12.8%, after the chipmaker posted second-quarter revenue above analysts’ expectations.

* On the TSX, 75 issues were higher, while 137 issues declined for a 1.83-to-1 ratio to the downside, with 15.76 million shares traded.

* The energy sector dropped 0.3%. U.S. crude prices were up 0.7% a barrel, while Brent crude added 1.0%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6%.

* Aphria Inc fell 13.8%, the most on the TSX, after cannabis producer reported bigger-than-expected loss.

* The second biggest decliner was Cameco Corp, down 9.4%, after the uranium producer posted disappointing quarterly results.

* The most heavily traded shares by volume were Aphria, aerospace and defense company Avcorp Industries Inc and Bank of Montreal.

* The TSX posted two new 52-week highs and no new low.

* Across all Canadian issues there were 25 new 52-week highs and three new lows, with total volume of 33.39 million shares. (Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)

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