CANADA STOCKS-TSX rises, led by mining stocks as precious metals rally

Tue Nov 1, 2016 11:28am EDT
 
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(Adds details throughout on stocks and sectors, updates prices)

* TSX up 37.8 points, or 0.26 percent, at 14,825.07

* Six of the TSX's 10 main groups rise

TORONTO, Nov 1 (Reuters) - Canada's main stock index rose on Tuesday as safe-haven demand for precious metals supported mining shares.

The most influential movers on the index were Barrick Gold Corp, which jumped 4.1 percent to C$24.56, and Franco Nevada Corp, which advanced 2.5 percent to C$89.97.

Gold, silver and platinum rallied to one-month highs as concerns over the outcome of the U.S. election sparked losses in stocks and the dollar, prompting investors to seek out precious metals as a haven from risk.

The materials group, which includes precious and base metal miners and fertilizer companies, added 2.0 percent.

WestJet Airlines Ltd surged 5 percent to C$23.05. Canada's second-largest carrier reported a higher-than-expected quarterly profit as it flew more passengers and expenses fell.

Thomson Reuters Corp said it would cut about 2,000 jobs worldwide, about 4 percent of its workforce, and take a fourth-quarter charge of $200 million to $250 million to streamline its business. Shares of the news and information company rose 4.1 percent to C$55.00.   Continued...