TSX notches small gain as materials stocks rise
TORONTO – Canada's main stock index edged higher in morning trade on Friday as materials stocks led a broad but shallow rally and some heavyweight financial shares slipped.
At 10:07 am ET, the Toronto Stock Exchange's S&P/TSX composite index was up 23.84 points, or 0.16%, at 15 359.07. It is on track for a seventh straight rising session and a 0.7% gain on the week.
One of the most influential gainers on the index was Barrick Gold, which advanced 1.9% to C$19.40. Smaller miner Iamgold rose 2.1% to C$4.48.
Bullion prices edged higher, but are down more than $200/oz since the US presidential election victory of Donald Trump set off a US dollar rally.
The materials group, which includes precious and base metals miners and fertiliser companies, added 0.5%.
The Canadian economy retreated in October due to widespread weakness in the manufacturing sector and a decline in oil and gas extraction, reinforcing expectations that growth slowed in the final quarter of the year.
Shares of uranium producer Cameco advanced 1.1% to C$14.45 after US President-elect Donald Trump called for expanded US nuclear weapon capability.
CGI Group Inc added 1% to C$63.74. The IT company said on Thursday it had signed a ten-year, $150-million deal to renew and expand its partnership with iA Financial Group.
Logistics software company Descartes Systems Group rose 1.1% to C$28.36. It said it has acquired trade data company Datamyne for $52.7-million in cash.
The heavyweight energy and financial groups both slipped 0.1%, the only two of ten main groups trading lower.
Several major banks and insurers weighed on the overall index. Sun Life Financial Inc slipped 0.7% to C$51.81 and Fairfax Financial Holdings Ltd lost 0.9% to C$662.24.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation