CANADA STOCKS-TSX reverses losses as oil, gold, global sentiment boost

By Kitco News / January 23, 2018 / www.kitco.com / Article Link

* TSX up 9.57 points, or 0.06 percent, at 16,357.98

* Five of TSX's 10 main groups move higher


TORONTO, Jan 23 (Reuters) - Canada's benchmark stock index reversed earlier losses to close marginally higher on Tuesday, lifted by positive sentiment globally as well as higher oil and gold prices.

* The Toronto Stock Exchange's S&P/TSX composite index was up 9.57 points, or 0.06 percent, at 16,357.98. Five of its 10 main industry groups ended in positive territory.

* Kinaxis Inc , which was up 10.6 percent at C$84.18, was the biggest gainer on the index after saying it had been chosen by Toyota Motor Corp to manage automotive demand and supply chain processes.

* Among the biggest gainers were Birchcliff Energy , up 9.3 percent, and New Gold Inc , which closed 6.8 percent higher.

* The companies were lifted by a 2 percent jump in crude oil futures to $64.78 a barrel, and a 0.5 percent rise in gold prices to $1,340.81 an ounce. * The rise in prices of the precious metal did not lift all gold firms, however. Pretium Resources Inc slumped 26.5 percent after the exploration company provided an operational update for its Brucejack mine in northern British Columbia and Credit Suisse downgraded the stock.

* The heavyweight financials group was among the decliners with a 0.2 percent drop, and industrials dipped 0.1 percent.


(Reporting by Alastair Sharp and Nichola Saminather; editing by G Crosse)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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