CANADA STOCKS-TSX edges higher as gold miners, Dominion Diamond gain

Mon Mar 20, 2017 10:39am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds details on specific stocks, updates prices)

* TSX up 4.6 points, or 0.03 percent, to 15,495.09

* Six of the TSX's 10 main groups move higher

TORONTO, March 20 (Reuters) - Canada's benchmark stock index edged higher on Monday, helped by gold miners as bullion rose and a surge in acquisition target Dominion Diamond Corp , with gains muted by financial stock declines and energy companies weighed by lower oil prices.

Dominion shares jumped 22.6 percent to C$16.19 after Washington Companies said on Sunday it had previously made a proposal to acquire the mining company for $13.50 (C$18.03) a share.

Barrick Gold, the world's largest gold producer, rose 0.8 percent to C$25.34 as gold prices scaled a two-week peak. Smaller miner Agnico Eagle Mines Ltd added 1.5 percent to C$57.36.

Gold rose and the U.S. dollar and bond yields fell after a G20 weekend summit that was dominated by the U.S. administration's protectionist stance on global trade.

Lower bond yields helped dividend-paying telecom stocks notch strong gains for a second straight session, while financial stocks that benefit from a rising interest rate environment pulled back.

At 10:17 a.m. ET (1417 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 4.6 points, or 0.03 percent, to 15,495.09. Six of the index's 10 main groups were in positive territory.   Continued...