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TSX up 0.7%
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Tech share biggest gainer, energy shares slump
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Air Transat gains on new deal with union
(Updates to close)
By Nivedita Balu
Jan 8 (Reuters) –
Canada’s main stock index gained on Monday, boosted by tech stocks even as energy shares weighed down the index.
The Toronto Stock Exchange’s S&P/TSX composite index was up 137.36 points, or 0.66%, at 21,074.91.
Mirroring the trend on Wall Street, Canadian technology shares, which took a beating last week, recouped some losses to rise 2.9%, with Shopify among the top gainers as it rose 4.2%.
“We are seeing the tech sector boosting equity markets as investors are returning to the sector after last week’s pullback,” said Angelo Kourkafas, senior investment strategist at Edward Jones.
In New York, megacaps such as Amazon.com and Alphabet gained as Treasury yields fell ahead of readings on inflation and a new supply of government debt this week.
The healthcare sector rose 1.9%, led by gains in…
