CANADA STOCKS-TSX up as resource stock gains offset pot pullback

By Kitco News / January 11, 2018 / www.kitco.com / Article Link

(Updates prices to close)

* TSX ends up 38.99 points, or 0.24 percent, at 16,286.94

* Half of the TSX's 10 main groups move higher


TORONTO, Jan 11 (Reuters) - Canada's main stock index rose on Thursday as gains for energy companies and some miners offset a pullback in marijuana producers and a fall in Shaw Communications Inc after its quarterly earnings disappointed.

* The Toronto Stock Exchange's S&P/TSX composite index finished up 38.99 points, or 0.24 percent, at 16,286.94.

* Half of its 10 main sectors were in positive territory and advancing issues and decliners were evenly balanced overall.

* The energy group climbed 1.4 percent, even as crude oil prices retreated from big gains, with Cenovus Energy Inc up 4.4 percent at C$13.69. Tourmaline Oil Corp gained 5.7 percent to C$21.96 after providing a business update. * The most influential weights on the index included Shaw Communications, which ended down 2.8 percent to C$27.16 after reporting quarterly earnings that missed expectations. * Marijuana producers, a volatile but broadly rising sector, also weighed, with Canopy Growth Corp slumping 10.4 percent to C$37.56 and Aphria Inc down 9 percent at C$20.55.

* The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent, with Nutrien Ltd gaining 2.3 percent to C$66.63.

* Alamos Gold fell 6.9 percent to C$7.39 while Yamana Gold Inc rose 4.8 percent to C$4.19 after each miner provided a business update to investors.(Reporting by Alastair Sharp; Editing by Susan Thomas and Diane Craft)

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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