CANADA STOCKS-Gold producers lead TSX higher, markets brace for Fed minutes

By Kitco News / February 21, 2018 / www.kitco.com / Article Link

By Nichola Saminather

TORONTO, Feb 21 (Reuters) - Canada's main stock index rose to a 2-1/2-week high on Wednesday led by gold producers, as investors sought shelter in the precious metal ahead of the release of minutes from the Federal Reserve's latest policy meeting.

The Toronto Stock Exchange's S&P/TSX composite index opened up 0.2 percent and was trading 111.85 points, or 0.7 percent, higher at 15,551.37 at 10:08 a.m. EST (1508 GMT).

* Investors are bracing for the minutes of the Fed's January meeting, due at 1900 GMT, to see if they herald more increases in interest rates and bond yields.

* Kirkland Lake Gold , Guyana Goldfields , B2Gold , IAMGOLD and Eldorado Gold were among the 10 biggest gainers on the Toronto exchange.

* Gold futures rose 0.1 percent to $1,330.47 an ounce.

* The biggest gainer was logistics company TFI International , which advanced 9.7 percent after brokerages including Desjardins, Laurentian Bank Securities and Cowen & Co upgraded the company's rating and target price after its better-than-expected fourth-quarter earnings. * Shopify Inc was the worst performer on the index, sliding 5.3 percent after it priced a $657.6 million share offering. It closed at a record high on Tuesday. * Among the most active Canadian stocks by volume were Bombardier B , up 2.3 percent at C$4.01, its highest level since January 2015;Canopy Growth , down 1.9 percent at $28.98, and Manulife Financial , up 0.4 percent to C$24.79.

* There were 182 advancing issues, 53 declining and 15 were flat.


(Reporting by Nichola Saminather; Editing by Meredith Mazzilli)

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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