CANADA STOCKS-TSX little changed as energy companies tempered by gold sector

By Kitco News / February 16, 2018 / www.kitco.com / Article Link

(Adds details, stocks, updates prices)

Feb 16 (Reuters) - Canada's main stock index was little changed on Friday as a boost from the heavyweight energy sector was offset by a decline in gold and natural resource companies, as well as cannabis producers.

* At 10:08 a.m. EST (1508 GMT), the Toronto Stock Exchange's S&P/TSX composite index was off 1.3 points, or 0.01 percent, at 15,406.36.

* The energy group climbed 0.5 percent, boosted for the second day by TransCanada Corp , which advanced 1.3 percent to C$57.06 after it said on Thursday it would go ahead with the expansion of its NGTL natural gas system. * Suncor Energy also helped support the market, gaining 0.7 percent to C$42.72, while Enbridge Inc added 0.2 percent to C$43.33 after its quarterly profit beat forecasts. .

* A drop in gold producers weighed on the market Gold futures were unchanged at $1,352.2 an ounce. Agnico Eagle Mines was among the biggest drags on the index,down 3.5 percent at C$54.35, while First Quantum Minerals declined 2.8 percent to C$20.80. * Shares of cannabis companies also came under pressure the day after Canadian government officials said the planned July start date for legalized recreational marijuana was set to be delayed further. * Canopy Growth declined 3.5 percent to C$27, while Aphria Inc declined 5.1 percent to C$14.12. Aurora Cannabis was among the most actively traded companies on the index, down 6.4 percent to $10.16.

* Among the day's corporate earnings, Air Canada rose 3.7 percent to C$25.22 after it reported better-than-expected profit as efforts to improve the company's operating margins paid off. * The TSX posted three new 52-week highs and two new lows. Across all Canadian issues there were six new 52-week highs and seven new lows. Volume on the TSX index was 28.06 million shares.


(Reporting by Leah Schnurr; editing by Jonathan Oatis)

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.

Recent News

Producing gold still up after metal reversal, juniors down

February 17, 2025 / www.canadianminingreport.com

Clear split between gold, silver stock ETFs and rest of sector in 2025

February 17, 2025 / www.canadianminingreport.com

Gold producers and juniors back to recent highs

February 10, 2025 / www.canadianminingreport.com

US tariff hikes shock market and drive retaliation

February 03, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok