Canada Stocks-TSX edges back from record high as tech shares fall
SPY•TSX edges lower after record close
TORONTO, Aug. 6 (Reuters) - Canada's main stock index edged lower on Thursday as investors weighed corporate earnings and geopolitical uncertainty, with technology and consumer discretionary shares among the biggest decliners.
The Toronto Stock Exchange's S&P/TSX Composite index ended down 10.11 points at 36,136.31, after posting a record closing high on Wednesday.
Materials and energy gain as oil rises
- Just two of the 10 major sectors notched gains, including the materials group. It added 0.5%, while energy ended 0.6% higher.
- The price of oil settled up 2.75% at $77.29 a barrel on news an Iranian parliament committee is reviewing a bill that would ban U.S. and Israeli vessels from the Strait of Hormuz.
- Shares of Canadian Natural Resources rose 1.6% after the company beat second-quarter profit estimates on higher oil and natural gas production.
Technology and consumer discretionary weigh on the index
- The U.S. benchmark S&P 500 also closed lower, pausing after a strong start to the week, as investors digested the latest round of corporate earnings and looked for signs of progress toward a peace deal between the U.S. and Iran.
- "Earnings are very important, but the macro landscape is also pushing things along while adding to the uncertainty," said Corbin Footitt, portfolio manager at Verecan Capital Management Inc.
- The technology sector fell 1.5%, with shares of Celestica down nearly 13% after the data center infrastructure firm announced the pricing of an equity offering.
- Consumer discretionary lost 1.8% and industrials ended 0.7% lower.




