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CANADA STOCKS-TSX little changed as energy drag offsets gold producers

Published 2015-12-21, 05:12 p/m
CANADA STOCKS-TSX little changed as energy drag offsets gold producers
AGU
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POT
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LCO
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CL
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GOLD
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GSPTSE
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CNQ
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TD
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TRP
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GG
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RY
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* TSX 10.08 points, or 0.08 percent, to 13,034.38
* Eight of the TSX's 10 main groups rise

(Adds details, quotes, updates closing prices)
TORONTO/OTTAWA, Dec 21 (Reuters) - Canada's main stock index
was little changed on Monday as energy stocks gave up early
gains but investors scooped up shares in safe-haven sectors such
as consumer staples and healthcare, while gold producers
climbed.
Transcanada Corp TRP.TO was among the day's biggest drags,
giving up 2.3 percent at C$44.67. Among resource companies that
were lower, Canadian Natural Resources CNQ.TO fell 1.2 percent
to C$28.8.
After gaining more than 1 percent earlier in the day, the
energy sector as a whole retreated 0.7 percent. U.S. crude
prices stabilized but Brent crude hit an 11-year low. O/R
"The energy group is still being held hostage by the daily
gyrations in crude prices, which are currently approaching the
lows of 2008," said Elvis Picardo, strategist and vice president
of research at Global Securities in Vancouver.
Agricultural shares weighed, with Potash Corp POT.TO down
1.6 percent at C$23.83 and Agrium Inc AGU.TO declining 3.6
percent to C$124.72. Several analysts have recently downgraded
the stocks amid a weak pricing environment.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended up 10.08 points, or 0.08 percent, to 13,034.38.
Eight of the index's 10 main groups rose.
The most influential movers on the index to the upside
included some of its biggest banks, with Royal Bank of Canada
RY.TO rising 0.4 percent to C$74.55 and Toronto-Dominion Bank
TD.TO advancing 0.2 percent to C$54.8.
The overall financial group added 0.3 percent, while the
consumer staples sector climbed 0.7 percent and the healthcare
group gained 1.3 percent.
Gold producers also did well as gold prices gained. Barrick
Gold ABX.TO jumped 3.5 percent to C$10.44, while Goldcorp
G.TO climbed 2.0 percent to C$16.51.
"The TSX seems to be following last year's trading pattern,
when we saw a strong surge in the second half of December," said
Picardo. "While it may be too optimistic to expect a repeat of
that performance, tax-loss selling pressure has abated, and we
are seeing some interest in commodity producers, especially gold
miners."
Advancing issues outnumbered declining ones on the TSX by
122 to 113, for a 1.08-to-1 ratio on the upside.

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