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

Published 2017-10-04, 11:23 a/m
© Reuters.  CANADA STOCKS-TSX little changed as Shopify drop offsets broader gains
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* 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 SHOP.TO 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 .GSPTSE 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 FNV.TO 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 CLc1 prices 0.4 percent to $50.60 a barrel. O/R

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

Industrials fell 0.6 percent. Waste Connection Inc WCN.TO 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.

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