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CANADA STOCKS-TSX up after five down days as miners gain

Published 2016-06-15, 10:55 a/m
© Reuters.  CANADA STOCKS-TSX up after five down days as miners gain
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(Adds details from early trade, updates prices)
* TSX up 60.94 points, or 0.44 percent, at 13,945.17
* Eight of the TSX's 10 main groups were higher

TORONTO, June 15 (Reuters) - Canada's main stock index rose
on Wednesday as miners and other materials stocks led a broad
but subdued rebound and some energy stocks weighed ahead of a
U.S. Federal Reserve rate decision and outlook.
At 10:10 a.m. EDT (1410 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 60.94 points, or 0.44
percent, at 13,945.17.
The gains, if sustained, would reverse five days of losses
that took the index to a near one-month low.
Worries that Britain, the world's fifth-largest economy,
could quit the European Union after a June 23 referendum have
dominated markets this week and driven investors towards
safe-haven assets such as gold and the Swiss franc.
That trend was reversed somewhat on Wednesday, with bullion
slipping from a six-week high ahead of a Federal Reserve policy
decision later in the day.
The Fed is expected to keep interest rates unchanged and
indicate whether it still plans to raise rates twice in 2016.
The most influential gainers included Barrick Gold Corp
ABX.TO , which rose 1.7 percent to C$25.86, and Teck Resources
Ltd TCKb.TO , which advanced 5.5 percent to C$14.91. Potash
Corp POT.TO advanced 1.9 percent to C$22.03.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 1.6 percent.
On the other side of the ledger, Suncor Energy Inc SU.TO
fell 0.5 percent to C$33.98 and Encana Corp ECA.TO lost 1.5
percent to C$10.20, while the overall energy group was barely
lower as oil prices headed for a fifth straight fall. O/R
Suncor, Canada's largest crude producer, told employees the
massive wildfire that struck northern Alberta in May will cost
it nearly C$1 billion, according to two sources.
The financials group gained 0.4 percent and industrials rose
0.5 percent. Eight of the index's 10 main groups were in
positive territory and advancers outnumbered decliners by more
than 3-to-1.
Canadian manufacturing sales grew by a greater-than-expected
1.0 percent in April from March after two consecutive
month-on-month declines, data from Statistics Canada indicated
on Wednesday. ECONCA
U.S. crude CLc1 prices were down 1.2 percent to $47.89 a
barrel, while Brent LCOc1 lost 1.9 percent to $48.9. O/R
Gold futures GCc1 fell 0.2 percent to $1,283.7 an ounce
and copper prices CMCU3 advanced 3.1 percent to $4,648.5 a
tonne. GOL/ MET/L

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