Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

CANADA STOCKS-TSX near flat as financials rise, marijuana producers pull back

Published 2018-01-04, 10:59 a/m
© Reuters.  CANADA STOCKS-TSX near flat as financials rise, marijuana producers pull back
CL
-
GSPTSE
-
WCN
-
OVV
-
MFC
-
LMNL
-
WEED
-
APHA
-

(Adds details throughout on stocks and sectors; updates prices)

TORONTO, Jan 4 (Reuters) - Canada's main stock index was little changed on Thursday as the financial and industrial groups climbed, while shares of energy and marijuana producers pared some recent gains.

* At 10:46 a.m. EST (1546 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 0.1 of a point to 16,371.65. It touched an all-time intraday high of 16,404.12.

* The heavyweight financials group rose 0.5 percent as bond yields climbed after data showing a stronger-than-expected gain in U.S. private employment. Manulife Financial Corp MFC.TO advanced 1.5 percent to C$26.56.

* Higher yields reduce the value of insurance companies' liabilities and increase net interest margins of banks.

* Industrials firmed 0.3 percent, with Waste Connections Inc WCN.TO up 1.2 percent at C$87.86 after two analysts raised their price target on the stock.

* The biggest gainer on the index was Prometic Life Sciences Inc PLI.TO , which rose 8.5 percent to C$1.53.

* Six of the index's 10 main groups were lower.

* The energy group, which had rallied as much as 11.9 percent since mid-December, fell 0.7 percent. Encana Corp ECA.TO was down 2.3 percent at C$16.91.

* U.S. crude CLc1 prices were little changed at $61.66 a barrel. The largest decliner on the TSX was Aphria Inc APH.TO , down 10.3 percent at C$19.25. Another marijuana producer, Canopy Growth Co WEED.TO , fell 9.9 percent to $32.34.

* The U.S. Department of Justice on Thursday will rescind an earlier marijuana policy under former Democratic President Barack Obama that eased enforcement of federal laws amid a growing number of local legalization efforts, according to a source familiar with the change.

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.