Toronto index reverses losses to close higher, led by tech and cannabis

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Canada's main stock index reversed early losses to close higher on Wednesday following choppy trading, as growth sectors including technology and cannabis rose, offsetting declines in utilities and materials.The Toronto Stock Exchange's S&P/TSX composite index closed up 94.66 points, or 0.4%, at 21,548.43, led by technology and healthcare, whichrose 1.8% and 1.7%, respectively.

Cloud-based learning management provider Docebo Inc (DCBO.TO) was the biggest gainer, rising 6%, with Lightspeed Commerce (LSPD.TO) and Shopify Inc (SHOP.TO) also among the top 10 stocks on the index.

Shopify, Canada's most valuable company, recovered after two days of losses when it got caught up in a sell-off of high-growth stocks after Jerome Powell's nomination for a second term as Federal Reserve chair boosted expectations of early U.S. monetary policy tightening.

Cannabis producer Organigram Holdings (OGI.TO) was the second-best performer, rising 5.4% and adding to Tuesday's 8.9% gains on better-than-expected quarterly revenues.

Energy stocks bucked a 0.3% decline in energy prices to rise 1.8% to the highest close since April 2019.

That helped offset declines in consumer stocks, utilities and materials.

Alimentation Couche-Tard (ATDb.TO) was the biggest loser on the index after the convenience store chain operator reported a decline in quarterly profits from a year ago.

Miners including New Gold (NGD.TO), Osisko Mining (OSK.TO) and Kinross Gold (K.TO) were among the 10 worst performers, with spot gold marginally lower.

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