Advertisement

CANADA STOCKS-Resource shares put TSX on track for fifth week of gains

From Reuters - October 13, 2017

* TSX up 75.18 points, or 0.48 percent, at 15,817.38

* Nine of the TSXs 10 main groups were higher

Oct 13 (Reuters) - Canadas main stock index climbed on Friday as shares of energy and resource companies rose alongside oil and gold prices, putting the broader market on track for a fifth week of gains in a row.

The energy sector led the way up, gaining 0.9 percent as oil prices were lifted by strong Chinese oil import data, as well as by turmoil in the Middle East.

U.S. crude prices were up 1.2 percent at $51.18 a barrel, while Brent crude added 1.1 percent to $56.87.

Canadian Natural Resources was among the biggest lifts on the index, up 0.9 percent at C$41.04, while Cenovus Energy advanced 2.1 percent to C$12.16.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.6 percent, while Teck Resources was up 2.5 percent at C$29.20.

Gold futures rose 0.5 percent to $1,300 an ounce after weak U.S. inflation data dampened the case for interest rate increases.

Advertisement

Continue reading at Reuters »