TSX ends slightly higher as tech shares rally
EWC•Canada's S&P/TSX Composite Index rose 0.04% to 35,518.55, as a 1.4% gain in technology shares offset declines in energy and financials. Shopify gained 5.7%, while Cenovus agreed to buy Athabasca Oil in a C$5.7 billion deal.
1. Technology lifts TSX
The S&P/TSX Composite Index ended up 15.9 points, or 0.04%, at 35,518.55, adding to a nearly 1% gain on Friday. Technology shares rose 1.4%, while energy fell 0.4% and financials declined 0.5%; Shopify gained 5.7%.
2. Oil sector deals
Cenovus Energy agreed to buy Athabasca Oil in a C$5.7 billion cash-and-stock deal. Cenovus shares fell 3%, while Athabasca rose 13.5%. Suncor Energy fell 1.2% after agreeing to sell interests in three offshore oil assets to Ithaca Energy for C$1.2 billion in upfront cash.
