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Canadian Shares Recover After Cautious Start; TSX At New High

After a somewhat hesitant start, the Canadian stock market moved higher Tuesday morning, led by gains in select healthcare, materials and consumer discretionary shares.

A few stocks from energy and industrial sections too edged higher, while information technology shares were a bit subdued.

The mood was a bit cautious with investors reacting to mixed results from major U.S. banks and looking ahead to the signing of the phase on trade deal between the U.S. and China.

The benchmark S&P/TSX Composite Index was up 32.10 points, or 0.18%, at 17,325.52, a new all-time high, a few minutes before noon.

Among the stocks in the Healthcare index, Aurora Cannabis (ACB.TO) gained 5.4%, Hexo Corp (HEXO.TO) advanced nearly 4%, Knight Therapeutics (GUD.TO) advanced 2.3% and Canopy Growth Corporation (WEED.TO) was up by about 1.4%.

Aphria Inc. (APHA.TO) declined more than 4.5% after the company reported a net loss for the second quarter. The stock moved up sharply in early trades, riding on a sharp jump in net revenue at C$120.6 million, up from CS$21.7 million in the year-ago quarter.

Consumer discretionary stock Canada Goose Holdings (GOOS.TO) gained about 3.5%. In the industrial space, SNC-Lavalin (SNC.TO), Boyd Group Services (BYD.TO) and Westshore Terminals Investment (WTE.TO) gained 2.3 to 3%, while Chorus Aviation (CHR.TO) gained about 1.35%.

In the materials space, Endeavour Mining (EDV.TO), Methanex Corp (MX.TO), Alacer Gold Corp (ASR.TO), Oceanagold Corp (OGC.TO) and Canfor Corp (CFP.TO) gained 2.3 to 5%.

Among energy shares, Canadian Natural Resources (CNQ.TO) gained about 1.5%, while Enerplus Corp (ERF.TO) and Vermillion Energy (VET.TO) were up by about 1%.

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