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CANADA STOCKS-TSX ends higher as energy, gold mining shares climb

Published 2017-08-29, 04:56 p/m
© Reuters.  CANADA STOCKS-TSX ends higher as energy, gold mining shares climb
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* TSX closes up 30.67 points, or 0.2 percent, at 15,082.70

* Six of the TSX's 10 main groups end higher

* Materials group adds 1 percent

* Index touches lowest intraday since Aug. 21 at 14,933.99

By Fergal Smith

TORONTO, Aug 29 (Reuters) - Canada's main stock index rose on Tuesday, clawing back earlier losses after North Korea had fired a ballistic missile over northern Japan, as energy and gold mining shares gained ground.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed up 30.67 points, or 0.2 percent, at 15,082.70.

The index had hit a one-week low intraday after U.S. President Donald Trump warned "all options are on the table" after the missile test. But investors shrugged off concerns over North Korea, with Wall Street also ending higher. think people are tired of the negative markets and are looking for reasons to move ahead," said Brian Pow, vice president, research and equity analyst at Acumen Capital Partners.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1 percent as safe-haven demand for gold helped push bullion prices further above $1,300 per ounce. Eagle Mines AEM.TO increased 3.1 percent to C$63.90, and Barrick Gold Corp ABX.TO ended up 1.0 percent at C$22.27.

Energy shares climbed 0.8 percent as oil prices settled well above session lows. Suncor Energy Inc SU.TO rose 1.4 percent to C$39.50 and Canadian Natural Resources Ltd CNQ.TO added nearly 1 percent to C$38.98.

U.S. crude CLc1 prices ended down 0.3 percent at $46.44 a barrel, as the market grappled with the shutdown of more than 16 percent of refining capacity in the United States after a hurricane ripped through the heart of the country's oil industry.

Six of the index's 10 main groups ended higher, with industrials advancing 0.8 percent as railroad stocks climbed.

Prometic Life Sciences PLI.TO soared 25 percent to C$1.50 after it said the U.S. Food and Drug Administration granted the company a rare pediatric disease designation for its plasminogen replacement therapy. Industries Ltd TIH.TO was another bright spot, rising 9.8 percent to C$54.75 after some analysts increased their ratings on the company's shares. lenders Bank of Nova Scotia BNS.TO and Bank of Montreal BMO.TO posted higher-than-expected quarterly earnings, reaping the benefits of a domestic economy growing at its fastest rate in years. of Bank of Nova Scotia BNS.TO gained 0.2 percent to C$77.33. But Bank of Montreal BMO.TO fell 2.6 percent to C$90.07 and the overall financials group ended 0.2 percent lower.

Bombardier Inc BBDb.TO is out of the running for an estimated $3.2 billion New York City subway contract, in what the plane and train maker called a disappointment. Its shares fell 2.8 percent to C$2.46.

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