🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

CANADA STOCKS-TSX rises as higher oil prices boost energy stocks

Published 2017-02-23, 10:42 a/m
© Reuters.  CANADA STOCKS-TSX rises as higher oil prices boost energy stocks
XAU/USD
-
POT
-
GC
-
HG
-
LCO
-
CL
-
GOLD
-
0P6E
-
GSPTSE
-
CM
-
CNQ
-
VRN
-
L
-
MFI
-
SU
-
GG
-
ENB
-
RY
-

* TSX up 17.87 points, or 0.11 percent, at 15,848.09

* Seven of the TSX's 10 main groups move higher

TORONTO, Feb 23 (Reuters) - Canada's main stock index rose on Thursday as energy company stocks were boosted by gains in oil prices, while higher prices for bullion lifted shares of gold miners.

Supermarket chain Loblaw's L.TO advanced 2.1 percent to C$70.37 after reporting a sharp jump in profit and higher-than-expected revenue. energy group climbed 1.3 percent, as oil prices rose more than $1 a barrel after U.S. data showed a surprise decline in inventories, suggesting a global glut may be ending after moves by OPEC to cut production. O/R

Suncor Energy Inc SU.TO rose 1.1 percent to C$42.60 and Canadian Natural Resources Ltd CNQ.TO also added 1.1 percent, to C$38.58.

Crescent Point Energy Corp CPG.TO advanced 3.5 percent to C$16.04, even as the company reported a bigger-than-expected quarterly loss as production fell about 6 percent. operator Enbridge Inc ENB.TO fell 1.1 percent to C$54.71. An outage on its Line 2A pipeline in Canada's Alberta will last about three weeks, the company said in a note to shippers seen by Reuters. 10:29 a.m. ET (1529 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 17.87 points, or 0.11 percent, at 15,848.09. Seven of the index's 10 main groups were in positive territory, with two advancers for every decliner.

The index is trading just off record highs.

Goldcorp Inc G.TO advanced 1.5 percent to C$22.52 and Barrick Gold Corp ABX.TO rose 1.3 percent to C$26.44 as prices for the precious metal hit a three-month high. Bullion rose after the minutes of the latest Federal Reserve policy meeting further damped expectations of an interest rate hike in March, lowering U.S. bond yields and stalling upward momentum in the dollar. GOL/

Maple Leaf Foods Inc MFI.TO advanced 3.2 percent to C$30.905. The meat packing company is hunting for acquisitions in the United States, after years spent upgrading old factories and shedding business lines, its chief executive officer said on Wednesday, a day after reporting a doubling of fourth-quarter profit. financials group gained 0.2 percent, with Royal Bank of Canada RY.TO advancing 0.4 percent to C$98.86 and Canadian Imperial Bank of Commerce CM.TO advancing 1.0 percent to C$119.39.

CIBC said it would be "disciplined" in assessing whether to raise its C$3.8 billion ($2.9 billion) offer for Chicago-based PrivateBancorp and could step up stock buybacks if the deal collapses. crude CLc1 prices were up 2.0 percent to $54.64 a barrel, while Brent LCOc1 added 2.0 percent to $56.98. O/R

Gold futures GCc1 rose 1.3 percent to $1,247.4 an ounce and copper prices CMCU3 fell 1.3 percent to $5,960 a tonne. GOL/ MET/L

The materials group was barely higher as losses for base metal miners and fertilizer companies offset the gold mining gains.

First Quantum Minerals Ltd FM.TO fell 2.4 percent to C$14.85 and Potash Corp POT.TO shed 2.2 percent to C$23.92.

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.