June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

CANADA STOCKS-TSX rises with oil, banks; miners down as Clinton cleared

Published 2016-11-07, 11:02 a/m
© Reuters.  CANADA STOCKS-TSX rises with oil, banks; miners down as Clinton cleared
XAU/USD
-
GC
-
GOLD
-
MGA
-
GSPTSE
-
BNS
-
CNQ
-
TD
-
SU
-
GG
-

(Adds details, updates prices)

* TSX up 113.08 points, or 0.78 percent, at 14,622.33

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

TORONTO, Nov 7 (Reuters) - Canada's main stock index rose on Monday, helped by energy stocks and banks as oil prices gained and the FBI cleared U.S. Democratic presidential candidate Hillary Clinton of wrongdoing over emails just ahead of the U.S. election.

Nine of the index's 10 main groups were in positive territory, with the materials sector, which includes precious and base metals miners and fertilizer companies, falling 1.7 percent.

Gold miners weighed heavily as bullion retreated on the news about Clinton, which is seen helping her in a tight race for the White House against Republican nominee Donald Trump. GOL/

Clinton is viewed by markets as a status quo candidate with more predictable policies than her Republican rival Donald Trump, a political novice. News favoring Clinton's presidential bid generally boosts global risk appetite.

The election is on Tuesday and the final result will be known on Wednesday.

At 10:35 a.m. EDT (1535 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 113.08 points, or 0.78 percent, at 14,622.33. Advancers were outnumbering decliners by more than 3-to-1.

The heavyweight financials group gained 1.1 percent. Toronto-Dominion Bank TD.TO rose 1.1 percent to C$60.35 and Bank of Nova Scotia BNS.TO advanced 1.3 percent to C$71.91.

Other influential gainers on the index included Suncor Energy Inc SU.TO , which rose 1.8 percent to C$39.84, and Canadian Natural Resources Ltd CNQ.TO , which advanced 1 percent to C$40.53. The energy group climbed 1.7 percent.

Oil rose more than 1 percent, boosted by a commitment from OPEC to stick to a deal to cut output, although prices remained more than $7 below last month's high due to persistent doubts over the feasibility of the group's plan. O/R

Magna International Inc MG.TO gained 1.6 percent to C$121.75 after reaching a new tentative agreement with a union at one of the auto parts maker's plants after a short strike. Canada jumped 7.1 percent to C$12.79 after the country's largest airline reported a better-than-expected quarterly profit and forecast lower costs for the current quarter. futures GCc1 fell 1.4 percent to $1,285.6 an ounce. GOL/

Barrick Gold ABX.TO fell 5.4 percent to C$23.17 and Goldcorp Inc G.TO declined 4.1 percent to C$19.67.

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.