NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

CANADA STOCKS-TSX rises as materials and Rogers gain ground

Published 2016-10-17, 10:58 a/m
© Reuters.  CANADA STOCKS-TSX rises as materials and Rogers gain ground
XAU/USD
-
TECK
-
GC
-
CL
-
RCI
-
GOLD
-
BHC
-
GSPTSE
-
T
-
CNI
-

* TSX up 32.6 points, or 0.22 percent, to 14,617.59

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

TORONTO, Oct 17 (Reuters) - Canada's main stock index rose on Monday, led by gains for the materials group and for Rogers Communications Inc RCIb.TO after it named a new chief executive officer, while financials and energy also gained ground.

The Chief Executive of Rogers, Guy Laurence, is stepping down effective immediately and will be replaced by former Telus Corp T.TO executive Joe Natale as soon as possible, the Canadian telecom company said. The surprise move came as Rogers also posted a sharp fall in net income after it shut down the streaming television joint venture Shomi. shares rose 1.4 percent to C$55.11, while the overall telecoms group firmed 0.3 percent.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.7 percent.

Teck Resources Ltd TCKb.TO rose 4 percent to C$25.65, while Barrick Gold Corp ABX.TO was up 0.8 percent at C$20.77.

Spot gold XAU= firmed 0.4 percent as the U.S. dollar dipped after reaching an earlier 7-month high. 10:46 a.m. EDT (1446 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 32.6 points, or 0.22 percent, to 14,617.59.

Seven of the index's 10 main groups were higher.

The financials group firmed 0.2 percent, while energy was up 0.1 percent despite lower oil prices.

U.S. crude CLc1 prices were down 1.0 percent at $49.85 a barrel as oversupply concerns weighed. National Railway Co CNR.TO fell 0.4 percent to C$86.83, while Valeant Pharmaceutical International Inc VRX.TO was down 1.9 percent at C$28.58.

Foreign investment in Canadian securities in August rose to C$12.74 billion from C$9.10 billion in July. Foreigners invested C$2.60 billion in stocks and C$1.17 billion in corporate paper.

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.