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TSX inches up on technology shares boost, BoC meeting in focus

TSX inches up on technology shares boost, BoC meeting in focus

Jan 22 (Reuters) – Canada’s main stock index edged higher on Monday, bolstered by gains in technology shares and U.S. benchmark S&P 500 hitting a fresh record high, while investors maintained caution ahead of the Bank of Canada’s monetary policy meeting later in the week.

At 10:37 a.m. ET (15:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE), opens new tab was up 17.41 points, or 0.08%, at 20,923.93.

Rate-sensitive technology stocks (.SPTTTK), opens new tab led the gains among sectors, rising 0.6%, followed by consumer discretionary stocks (.GSPTTCS), opens new tab that added 0.3%.

The materials sector (.GSPTTMT), opens new tab, which houses Canadian miners, slid 0.5% on lower prices of copper and gold as hopes of a March interest rate cut by the Federal Reserve faded, and poor demand prospects weighed.

Energy shares (.SPTTEN), opens new tab extended losses from last week, falling 0.2% even as oil

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