CANADA STOCKS-TSX jumps on BOJ stimulus move; gold miners dive

Fri Oct 31, 2014 10:48am EDT
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* TSX up 159.75 points, or 1.1 percent, at 14,618.44
    * Eight of 10 main index sectors advance
    * Gold miners slump to 13-year low

    By John Tilak
    TORONTO, Oct 31 (Reuters) - Canada's main stock index
advanced on Friday after the Bank of Japan surprised markets by
increasing stimulus measures, helping drive gains in most major
    The Japanese central bank expanded its massive stimulus
spending in an admission that economic growth and inflation have
not picked up as much as expected after a sales tax hike in
    The move fueled a surge in the U.S. dollar, sending
the bullion price tumbling. Shares of gold miners dived
yet again, slumping to their lowest in about 13 years.
    The benchmark TSX has been through a rough patch in recent
weeks, hit by choppy commodity prices and worries about global
growth. But with Friday's gains, the index has rebounded about 7
percent from an eight-month low it hit two weeks ago.
    "The BOJ has sparked this rally. It's given the market
another boost," said John Ing, president of Maison Placements
    "The boost we're getting is very much a temporary jolt," he
    Ing expects choppy commodity prices to weigh on the
resource-heavy TSX in the coming weeks.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 159.75 points, or 1.1 percent, at 14,618.44.
Eight of the 10 main sectors on the index were higher.
    Financials, the index's most heavily weighted sector,
climbed 1.5 percent. Toronto Dominion Bank added 1.6
percent to C$55.64, and Bank of Nova Scotia rose 1.4
percent to C$69.22.
    Shares of energy producers were up 0.8 percent, with Suncor
Energy Inc gaining 1.5 percent to C$39.57.
    The gold-mining sector, gave back 2.7 percent, mirroring a
drop in the bullion price. Barrick Gold Corp shed 2.1
percent to C$13.46, and Goldcorp Inc lost 0.8 percent to

 (Editing by James Dalgleish)