Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

CANADA STOCKS-TSX rises, Kinder Morgan Canada jumps

Published 2017-12-08, 10:15 a/m
Updated 2017-12-08, 10:20 a/m
© Reuters.  CANADA STOCKS-TSX rises, Kinder Morgan Canada jumps

* TSX up 53.19 points, or 0.33 percent, at 16,068.87

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

TORONTO, Dec 8 (Reuters) - Canada's main stock index rose on Friday as pipeline operator Kinder Morgan (NYSE:KMI) Canada Ltd KML.TO jumped following a favorable regulator ruling and energy stocks broadly gained with higher oil prices.

* At 9:46 a.m. ET (14:46 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 53.19 points, or 0.33 percent, at 16,068.87. It is on track for a 0.2 percent gain over the course of the week.

* Kinder Morgan Canada was last up 6.4 percent at C$17.72 after the country's energy regulator ruled it could sidestep some municipal permits for its Trans Mountain pipeline expansion. Nine of the index's 10 main groups were in positive territory, with telecoms being the one declining group, and advancers outnumbered decliners by more than 4-to-1.

* Rogers Communications Inc RCIb.TO fell 1.4 percent to C$64.34, the heaviest weight on the index, after the cable and telecom company said its chairman would step down at the end of the year. He will be replaced by Edward Rogers, the son of the family-controlled company's founder Ted Rogers. The energy group climbed 0.4 percent, as oil prices edged higher, while the financials group gained 0.3 percent.

* Industrials rose 0.7 percent, led by gains for the country's two main railway companies, while the materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent.

* Among the most influential gainers on the index were diversified miner Teck Resources Ltd TECKb.TO , which rose 2.3 percent to C$29.93, and Barrick Gold Corp ABX.TO , which advanced 1.0 percent to C$17.75.

* Copper and gold prices were marginally higher.

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.