October 25, 2018 / 2:30 PM / a year ago

CANADA STOCKS-TSX recovers on better corporate earnings

Oct 25 (Reuters) - Canada’s main stock index rose on Thursday as better corporate earnings helped the market recover from the biggest one-day decline in three years on Wednesday.

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 49.97 points, or 0.34 percent, at 14,959.1.

* Eight of the index’s 11 major sectors were higher, led by the 1.1 percent gain in the energy sector.

* Oil prices stabilised with U.S. crude prices rising 0.2 percent a barrel, while Brent crude added 0.3 percent..

* Shopify, jumped 10 percent after reporting a surprise quarterly profit as more subscribers and merchants signed up to use its platform.

* Shaw Communications edged 1 percent higher after telecom services provider’s quarterly profit topped analysts’ estimates as it added more customers to its wireless offerings.

* Oil and gas producer Husky Energy dropped 1.6 percent despite a better-than-expected quarterly profit, which was boosted by higher crude oil prices.

* The financials sector gained 0.2 percent. The industrials sector edged up 0.1 percent.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1 percent as gold futures rose 0.9 percent to $1,238.6 an ounce.

* The largest percentage gainers on the TSX were Crescent Point, which jumped 8.5 percent after results, followed by Shopify Inc shares.

* Goldcorp fell 9.1 percent, the most on the TSX, after the gold producer posted a bigger-than-expected loss in third quarter. The second biggest decliner was Celestica , down 8.2 percent, after the electronics company missed quarterly earnings estimate.

* The most heavily traded shares by volume were Aurora Cannabis, Bombardier and Goldcorp.

* On the TSX, 166 issues were higher, while 69 issues declined for a 2.41-to-1 ratio favouring gainers, with 16.98 million shares traded.

* The TSX posted no new 52-week high and seven new lows.

* Across all Canadian issues, there were two new 52-week highs and 58 new lows, with total volume of 24.37 million shares. (Reporting by Medha Singh in Bengaluru: Editing by James Emmanuel)

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