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CANADA STOCKS-TSX up slightly as miner gains offset broad losses

Published 2016-06-03, 10:36 a/m
© Reuters.  CANADA STOCKS-TSX up slightly as miner gains offset broad losses
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(Adds details, pricing after open)
* TSX up 4 points, or 0.03 percent, to 14,140.99
* Six of 10 main groups lower
* Index on track for 0.25 percent gain on week

TORONTO, June 3 (Reuters) - Canada's main stock index gained
marginally on Friday as a sharp gain for miners offset losses
for financial, technology, healthcare and consumer discretionary
stocks.
Nineteen of the 20 most influential gainers on the index
were from the materials group, which includes precious and base
metals miners and fertilizer companies, as gold prices surged
after disappointing U.S. jobs data.
Barrick Gold Corp ABX.TO jumped 10 percent to C$24.46,
Goldcorp Inc G.TO gained 5.9 percent to C$23.55, and Kinross
Gold K.TO rose 9.9 percent to C$6.26.
Diversified miners also gained as a range of base metals
prices were boosted by a weaker U.S. dollar.
Teck Resources TCKb.TO advanced 7.4 percent to C$13.86,
and First Quantum Minerals FM.TO gained 6.2 percent to C$9.13.
At 10:25 a.m. EDT (1425 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 4 points, or 0.03
percent, to 14,140.99. It's on track for a 0.25 percent weekly
gain.
Yet six of the index's 10 main groups were in negative
territory and decliners outnumbered advancers by five to four.
Among main laggards was Manulife Financial Corp MFC.TO ,
which declined 3 percent to C$18.83. The insurer said late on
Thursday that it would take a 49 percent stake in a Toronto real
estate company.
Brookfield Asset Management BAMa.TO fell 1.8 percent to
C$45.41 after Asciano shareholders voted for Brookfield's buyout
proposal.
The overall financials group slipped 1 percent, with Royal
Bank of Canada RY.TO down 0.9 percent to C$78.87, and
Toronto-Dominion Bank TD.TO also off 0.9 percent, to C$57.05.
The energy group retreated 0.2 percent, while industrials
fell 0.6 percent. The materials group added 5.3 percent.
U.S. crude CLc1 prices were down 0.8 percent to $48.79 a
barrel, while Brent LCOc1 lost 0.8 percent to $49.63. O/R
Gold futures GCc1 rose 2.7 percent to $1,241.8 an ounce
and copper prices CMCU3 advanced 1.4 percent to $4,670.5 a
tonne. GOL/ MET/L
Canada ran a near-record trade deficit of C$2.94 billion
($2.28 billion) in April as the economy continued to struggle
with weak crude oil prices that have slashed the value of
exports and curbed growth.

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