Canada Stocks Close Higher; Factory Sales Buoy Stocks, Surge Energy Most Active

By Staff,

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Canadian stocks closed higher on Tuesday, notching up gains for the third consecutive trading session. Most sectors were higher, led by Info Tech, while Energy and Utilities were the biggest drags on the broader market.

Stocks received a boost from better than expected economic data released this morning. Canadian manufacturing sales jumped 1.7% in July from June better than the 0.5% climb expected by economists. The month-on-month increase was the largest since the 3.5% leap in February, according to Statistics Canada.

Surge Energy Inc.(SGY.TO) was the most active losers on the TSX with no fresh specific stock news driving volume. Yesterday the company confirmed its quarterly dividend. The stock closed down 1.8% with 8.8 million shares changing hands.

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This article appears in: Investing Commodities
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