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Staff of Reuters 3 Minutes to Read (Updates prices, sectors) 30 JUNE (Reuters) – On Wednesday, Canada’s major stock index held flat, despite official data indicating that the country’s GDP likely dropped again in May, following its first drop in a year in April. * The Toronto Stock Exchange’s S&P/TSX composite index was flat at 20,170.36 at 9:39 a.m. ET (1339 GMT). The index, on the other hand, is expected to rise for the sixth month in a row. * The oil sector increased by 1.2 percent as U.S. crude prices increased by 0.7 percent per barrel, while Brent crude prices increased by 0.5 percent. According to Statistics Canada, the country’s GDP shrank by 0.3 percent in April as a result of lockdowns aimed at slowing a severe third wave of coronavirus illnesses. According to preliminary estimates from Statistics Canada, May’s gross domestic product declined 0.3 percent from the previous month. The materials sector gained 0.2 percent, which comprises precious and basic metals miners as well as fertilizer firms. * With 15.64 million shares traded on the TSX, 91 issues rose and 134 issues fell, for a 1.47-to-1 ratio to the downside. Cogeco Communications Inc., the top percentage gainer on the TSX, rose 3.9 percent after its affiliate Atlantic Broadband bought two service regions from WOW! Internet, Cable & Phone in the United States. Mullen Group Ltd, the second-largest gainer, jumped 3.8 percent after the freight transportation company agreed to buy QuadExpress, Quad/Graphics Inc.’s third-party logistics business. Tilray Inc, a cannabis producer, dropped 2.5 percent, the most on the TSX, after brokerage MKM Partners warned that there are dangers associated with the merged operations of Canadian pot producers Aphria Inc and Tilray Inc, which could outweigh certain clear positives. * Aurinia Pharmaceuticals Inc, a biotech business, was the second-largest loser, falling 2%. Power Corporation of Canada, Bank of Nova Scotia, and TC Energy Corp.* were the most heavily traded stocks by volume. Three new 52-week highs and two new lows were recorded by the TSX. With a total volume of 28.86 million shares, there were 22 new 52-week highs and nine new lows across all Canadian issues. (Bengaluru-based reporter Amal S contributed to this report; Maju Samuel edited it.)/nRead More

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