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CANADA STOCKS-Gold producers lead TSX higher, markets brace for Fed minutes

Published 2018-02-21, 10:22 a/m
Updated 2018-02-21, 10:30 a/m
© Reuters.  CANADA STOCKS-Gold producers lead TSX higher, markets brace for Fed minutes

By Nichola Saminather

TORONTO, Feb 21 (Reuters) - Canada's main stock index rose to a 2-1/2-week high on Wednesday led by gold producers, as investors sought shelter in the precious metal ahead of the release of minutes from the Federal Reserve's latest policy meeting.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE opened up 0.2 percent and was trading 111.85 points, or 0.7 percent, higher at 15,551.37 at 10:08 a.m. EST (1508 GMT).

* Investors are bracing for the minutes of the Fed's January meeting, due at 1900 GMT, to see if they herald more increases in interest rates and bond yields.

* Kirkland Lake Gold KL.TO , Guyana Goldfields GUY.TO , B2Gold BTO.TO , IAMGOLD IMG.TO and Eldorado Gold ELD.TO were among the 10 biggest gainers on the Toronto exchange.

* Gold futures XAU= rose 0.1 percent to $1,330.47 an ounce.

* The biggest gainer was logistics company TFI International TFII.TO , which advanced 9.7 percent after brokerages including Desjardins, Laurentian Bank Securities and Cowen & Co upgraded the company's rating and target price after its better-than-expected fourth-quarter earnings. Shopify Inc SHOP.TO was the worst performer on the index, sliding 5.3 percent after it priced a $657.6 million share offering. It closed at a record high on Tuesday. Among the most active Canadian stocks by volume were Bombardier B BBDb.TO , up 2.3 percent at C$4.01, its highest level since January 2015; Canopy Growth WEED.TO , down 1.9 percent at $28.98, and Manulife Financial MFC.TO , up 0.4 percent to C$24.79.

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* There were 182 advancing issues, 53 declining and 15 were flat.

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