CANADA STOCKS-TSX edges higher as base-metals miners rise, golds drop

Fri Apr 24, 2015 4:55pm EDT
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(Adds comments, updates prices to close)

* TSX ends up 15.98 points, or 0.10 percent, at 15,408.33

* Eight of the index's 10 main groups retreat

By Alastair Sharp

TORONTO, April 24 (Reuters) - Canada's main stock index gained modestly on Friday, rising 0.3 percent on the week, as a jump in base metal miners overcame a drop in gold miners, which were hit by a one-month low in bullion prices.

A rise in heavily weighted financial stocks also helped the Toronto Stock Exchange's S&P/TSX composite index stay in the green, while losses in oil and gas shares weighed.

"The mining area is the one showing a little bit of get up and go today," said John Kinsey, a portfolio manager at Caldwell Securities Ltd.

With iron ore prices bouncing off multiyear lows, Canada's Labrador Iron Ore Royalty followed its larger global peers higher, up 7.5 percent at C$14.70.

"Some people may think enough is enough and try to put in a bottom here," Kinsey said, referring to iron ore prices.   Continued...