CANADA STOCKS-TSX steady as energy shares rise, materials slip

By Kitco News / January 09, 2018 / www.kitco.com / Article Link

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

* TSX rises 9.89 points, or 0.06 percent, to 16,327.54

* Six of the index's 10 main groups fall

* Energy group gains 0.7 percent

* Materials sector falls 0.7 percent


TORONTO, Jan 9 (Reuters) - Canada's main stock index was little changed on Tuesday as shares of energy and marijuana producers rose, balancing a dip in the materials group which was pressured by a drop in gold prices.

* At 10:45 a.m. EST (15:45 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 9.89 points, or 0.06 percent, to 16,327.54.

* The energy group gained 0.7 percent as the price of crude oil rose to its highest since May 2015. * Shares of Encana Corp advanced 1.7 percent to C$16.84 after the company estimated fourth-quarter production from its core assets would top its own forecast, while U.S. crude prices were up 0.4 percent at $61.99 a barrel. * The largest percentage gainer on the TSX was Pure Industrial Real Estate Trust, which rose 20.8 percent after itsaid it will be bought by a Blackstone Group affiliate in an all-cash deal valued at about C$2.48 billion.

* Marijuana producers were also among the biggest gainers. Canopy Growth Co climbed 8.3 percent to C$119.19 and Aphria Inc was up 10.4 percent at C$24.27.

* Six of the index's 10 main groups fell.

* The materials group, which includes precious and base metals miners and fertilizer companies, fell 0.7 percent as gold miners lost ground.

* Spot gold retreated 0.8 percent to $1,311.53 an ounce, weighed down by a firmer U.S. dollar and buoyant global stock markets. * Nutrien Ltd , the fertilizer company formed last week by a merger of Potash Corp of Saskatchewan and Agrium, fell 1.5 percent to C$65.87.


(Reporting by Fergal Smith; Editing by Susan Thomas)

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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