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CANADA STOCKS-Precious metal shares drive Canada's main stock index higher

Published 2018-10-15, 10:36 a/m
© Reuters.  CANADA STOCKS-Precious metal shares drive Canada's main stock index higher
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Oct 15 (Reuters) - Canada's main stock index was higher on Monday as mining stocks rose on the back of climbing gold prices.

* At 9:38 a.m. ET (1338 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 23.92 points, or 0.16 percent, at 15,438.21.

* The materials group .GSPTTMT added 1.5 percent as gold prices rose more than 1 percent.

* Investors parked their funds in the safe-haven asset after a slide in European equities compounded fears on global stock markets. GOL/

* Top percentage gainers on the TSX were led by shares of gold miners, Iamgold Corp IMG.TO , which soared 4.7 percent, and Endeavour Mining EDV.TO , which surged 4.6 percent.

* However, the energy sector .SPTTEN edged down 0.1 percent, reversing its trend from the opening bell amid a fall in oil prices. O/R

* The financials sector .SPTTFS fell 0.1 percent.

* The Bank of Canada said Canadian business optimism remained at near record-levels in the third quarter, with companies reporting rising pressure on capacity, labor and prices amid signs of stronger sales. The Canadian dollar edged higher against the greenback on Monday ahead of the release of a business survey by the Bank of Canada. On the TSX, 143 issues were higher, while 98 issues declined for a 1.46-to-1 ratio favouring gainers, with 16.94 million shares traded.

* Blackberry Ltd BB.TO fell 1.8 percent, the most on the TSX, followed by shares of Descartes Systems DSG.TO , which shed 1.4 percent.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Royal Nickel RNX.TO and The Green Organic Dutchman TGOD.TO .

* The TSX posted no new 52-week highs and two new lows.

* Across all Canadian issues, there were six new 52-week highs and 18 new lows, with total volume touching 28.75 million shares.

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