CANADA STOCKS-TSX rises, led by bank and railroad shares

By Kitco News / January 19, 2018 / www.kitco.com / Article Link

(Updates prices to close)

* TSX closes up 68.99 points, or 0.42 percent, at 16,353.46

* Nine of the index's 10 main groups end higher

* Financials climb 0.6 percent, industrials gain 1.2 percent


TORONTO, Jan 19 (Reuters) - Canada's main stock index rose on Friday in a broad-based rally led by financial and industrial shares, while lower oil prices weighed on energy stocks.

* The Toronto Stock Exchange's S&P/TSX composite index closed up 68.99 points, or 0.42 percent, at 16,353.46.

* For the week, the index rose 0.3 percent.

* Some of the most influential movers on the index were the country's major banks. Royal Bank of Canada rose 0.8 percent to C$107.72, while Toronto-Dominion Bank added 0.4 percent to C$74.08.

* The overall financial services group, which accounts for more than one-third of the TSX's weight, gained 0.6 percent, while the materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent.

* Barrick Gold Corp climbed 1.6 percent to C$17.99. Gold futures rose 0.5 percent to $1,333 an ounce. * Industrials advanced 1.2 percent as railroad stocks gained ground.

* Canadian Pacific Railway Ltd was up 2.8 percent at C$233.40 after the company reported on Thursday fourth-quarter profit that beat analysts' estimates.

* Canadian manufacturing sales jumped 3.4 percent in November, their biggest increase in 2-1/2 years, on strength in transportation equipment and petroleum and coal products, Statistics Canada said. * Nine of the index's 10 main groups gained.

* Kinder Morgan Canada Ltd climbed nearly 7 percent to C$17.91 after Canada's National Energy Board on Thursday set out a process for resolving permit disputes related to the company's Trans Mountain pipeline expansion project. * Still, the energy group fell 0.4 percent. U.S. crude oil futures settled 0.9 percent lower at $63.37 a barrel. (Reporting by Fergal Smith; Editing by Nick Zieminski and James Dalgleish)

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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