Feb 4 (Reuters) – Canada’s main stock index edged higher on Monday as gains in financial shares helped more than offset losses in the materials and energy sectors.
* At 9:35 a.m. ET (1435 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was marginally up 15.57 points, or 0.1 percent, at 15,521.88.
* The financials sector gained 0.4 percent, helping the main index start off the week on a firm footing.
* The TSX eked out a 1 percent gain in the previous week, holding up its seven-week rally.
* Helping lift financials sector was ECN Capital Corp , which rose 1 percent after brokerage Cormark Securities raised price target for the company’s shares.
* Six of the index’s 11 major sectors were higher.
* The energy sector inched down 0.2 percent after oil prices slid on the back of uncertainty on prospects for global economy.
* U.S. crude prices were down 2 percent, while Brent crude lost 1.3 percent.
* The materials sector, which includes precious metal miners, shed 0.6 percent as gold prices fell after the dollar and global equities firmed up on the back of upbeat economic data from the United States.
* On the TSX, 102 issues were higher, while 120 issues declined for a 1.18-to-1 ratio to the downside, with traded volume touching 12.47 million shares.
* The biggest percentage gainers on the TSX were shares of cannabis firms Aphria Inc, which surged 9.4 percent, and Cronos Group Inc, which rose 6.2 percent.
* IGM Financial fell 2.7 percent, the most on the TSX, after brokerage Desjardins cut its rating on the company’s shares to “hold”.
* The second biggest decliner was gold miner OceanaGold Corp , down 2.6 percent.
* The most heavily traded shares by volume were Aurora Cannabis, Aphria Inc and Bombardier.
* The TSX posted four new 52-week highs and no new low.
* Across all Canadian issues, there were eight new 52-week highs and two new lows, with total volume touching 18.77 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by James Emmanuel)