TSX extends win streak as technology, energy shares climb

TORONTO (Reuters) - Canada’s main stock index rose to a 12-day high on Tuesday as technology and energy shares climbed and domestic data showed a stronger-than-expected gain for manufacturing sales.

Businessmen pass the Toronto Stock Exchange sing in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

The Toronto Stock Exchange’s S&P/TSX composite index ended up 52.92 points, or 0.35 percent, at 15,353.30, its highest close since April 5.

It was the fourth straight day of gains for the TSX.

Gains for the index came as Wall Street rallied on broad-based advances, while Netflix and UnitedHealth earnings impressed investors and boosted optimism about the U.S. corporate reporting season. [nL1N1RU25N

The TSX’s technology group rallied 2.7 percent, led by a 7.7 percent gain for Shopify Inc to C$158.04.

Also helping was Open Text’s 3.5 percent rise after activist hedge fund Blue Harbour Group LP CEO said the business information management software company could be acquired.

Energy advanced 0.7 percent, helped by higher oil prices.

U.S. crude oil futures settled 0.5 percent higher at $66.52 a barrel.

Canadian manufacturing sales rose more than expected in February after two months of declines as the vehicle sector bounced back from plant shutdowns at the beginning of the year, data from Statistics Canada showed.

The Bank of Canada is due to make an interest rate decision on Wednesday.

Six of the TSX’s 10 main groups rose on Tuesday. The index posted 11 new 52-week highs and three new lows.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent.

The largest percentage gainer on the TSX was Alaris Royalty, which rose 9.7 percent, while the largest decliner was Aphria Inc, down 7.4 percent.

Reporting by Fergal Smith; Editing by Peter Cooney