Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

CANADA STOCKS-TSX flat on day, heads for 1.9 pct gain on week

Published 2017-09-22, 10:24 a/m
© Reuters.  CANADA STOCKS-TSX flat on day, heads for 1.9 pct gain on week
CSGN
-
GSPTSE
-
BNS
-
AC
-
TAHO
-
KL
-
ECN
-

(Adds details on specific stocks, updates prices)

* TSX down 1.42 points, or 0.01 percent, at 15,453.50

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

TORONTO, Sept 22 (Reuters) - Canada's main stock index was flat on Friday but on track for a 1.9 percent gain on the week as financial stocks pushed higher and a bid for bullion on rising tension between North Korea and the United States boosted gold miners.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.2 percent, while the financials group also gained 0.2 percent.

Kirkland Lake Gold KL.TO rose 1.2 percent to C$16.31 after National Bank of Canada started coverage on the stock with an outperform rating. Tahoe Resources THO.TO gained 2.8 percent to C$7.09 after the miner increased its 2017 gold production outlook and cut its spending plans.

Gold prices recovered from a four-week low on a bid for safety as North Korea said it might test a hydrogen bomb over the Pacific Ocean after U.S. President Donald Trump vowed to destroy the reclusive country. 10:15 a.m. ET (1415 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 1.42 points, or 0.01 percent, at 15,453.50, with six of its 10 main groups lower. It closed at its highest level since early June on Thursday.

Bank of Nova Scotia BNS.TO added 0.5 percent to C$79.30 while finance company ECN Capital Corp ECN.TO jumped 4.5 percent to C$3.94 after closing a deal to acquire Service Finance Holdings and as Credit Suisse (SIX:CSGN) raised its view on the stock to "outperform" from "neutral".

Air Canada AC.TO pushed 2.5 percent higher to C$27.06 as investors bought into its plan to expand routes and cut some prices to compete against low-cost new entrants.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.