CANADA STOCKS-TSX edges up as energy, bank stocks gain;...

By Reuters

Published: 10:26 EST, 1 December 2017 | Updated: 10:26 EST, 1 December 2017

TORONTO, Dec 1 (Reuters) - Canada's main stock index edged higher on Friday as banks and energy companies gained with higher oil prices and surprisingly robust domestic jobs data, while gold mining stocks pulled back.

* BlackBerry Ltd fell 2.2 percent to C$13.61 after agreeing to pay Nokia about $137 million in a contract dispute, while Barrick Gold Corp slipped 0.7 percent to C$17.70 after saying it had bought a stake in a smaller gold miner.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9 percent.

* At 10:19 a.m. ET (1519 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 18.12 points, or 0.11 percent, at 16,085.60.

* Six of the index's 10 main groups were lower, with two decliners for every advancer overall, and the index was heading for a 0.4 percent slip over the course of the week.

* The energy group climbed 1.3 percent, as oil prices rose following a deal among major producer to extend an output curb.

* MEG Energy Corp rose 2.6 percent to C$5.60 after the oil sands producer said it expects higher production in 2018, compared to its 2017 forecast.

* U.S. crude prices were up 1.9 percent at $58.50 a barrel, while Brent added 1.8 percent to $63.78.

* The financials group gained 0.4 percent, with Canadian Imperial Bank of Commerce up 2 percent at C$120.48, extending gains as several analyst upgraded their view on the stock following its Thursday earnings beat.

* BRP Inc jumped early before pulling back to trade up 1.4 percent to C$47.84 after the Ski-Doo maker posted earnings that beat expectations. (Reporting by Alastair Sharp; Editing by David Gregorio)

Sorry we are not currently accepting comments on this article.

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Capitalbay. Capitalbay accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
What's next
By Abe Manuel 12/01/2017 10:26:00
View All