TSX rises in broad-based rally, energy limits gains
Updated at 10:00 a.m. ET/ 1400 GMT
By Nikhil Sharma
Oct 28 (Reuters) -Canada's main stock index rose on Monday as consumer staples and healthcare sectors led a broader rally, with energy shares limiting gains, while investors awaitedcrucial corporate earnings and economic data due thisweek.
The S&P/TSX composite index .GSPTSE was up 38.76 points, or 0.16%, at 24,502.43, setto snap its five-day losingstreak.
At least 10 sectorson the index constituted the broaderrally, with theconsumer staples .GSPTTCS and healthcare.GSPTTHC sectors rising 1% and 0.87%, respectively.
TSX stocksalso took cues from Wall Street, where major indexes rose in the run up to major company earnings andthe upcoming presidentialelection.
The heavyweightenergy sector .SPTTEN declined 2.4%as oil prices plunged after Israel's limited retaliatory strike against Iran did not disrupt energy supplies. O/R
"When you get these kind of commodity moves for Canada, I mean it just kind of overrides everything else," said Colin Cieszynski, chief market strategist at SIA Wealth Management.
Later in the day, Bank of Canada Governor Tiff Macklem is scheduled to speak at 1:30 p.m. ET.
Investors will look ahead to earnings from megacaps such as Alphabet GOOGL.O, Apple AAPL.O and Microsoft MSFT.O due later this week.
Domestic traders will also watchresults from companies such as CanadianNatural Resources CNQ.TO and Enbridge ENB.TO as well as Thursday's AugustGDP report -the first major dataset sincethe Bank of Canada's half-point rate cut last week.
This week's U.S. PersonalConsumption Expenditures index, along withthe country's third-quarter GDP data and nonfarm payrolls report could shed more light on the Federal Reserve'smonetary policy move next week.
With the U.S. presidential campaign approaching its final stretch, investors evaluated the prospects of Donald Trump returning to the White House as market bets favored the former president's reelection.
Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas
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