CANADA STOCKS-TSX edges higher in thin U.S. holiday trade

Thu Nov 25, 2010 10:43am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

   * TSX up 16.13 points, or 0.13 percent, at 12,918.12
 * Six of 10 main sectors higher
 * Trading volume at 10 pct of typical day
 By Solarina Ho
 TORONTO, Nov 25 (Reuters) - Toronto's main stock index was
higher on Thursday morning as modest advances in financial and
energy stocks offset a dip among mining issues.
 Investors mostly kept to the sidelines, however, with U.S.
markets closed for the Thanksgiving holiday.
 The index's energy sector was up 0.11 percent with Suncor
Energy SU.TO rising 0.32 percent to C$34.50, and Nexen Inc
NXY.TO climbing 0.61 percent to C$21.36. A 0.4 percent dip in
Husky Energy HSE.TO to C$25.25 held gains back.
 Oil prices inched higher in light trading, but persistent
worries about the euro zone debt crisis and China's inflation
prospects kept advances in check.
 Financial stocks advanced 0.12 percent. Bank of Montreal
BMO.TO was up 0.4 percent at C$60.26.
 At 10:35 a.m. (1535 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 16.13 points, or 0.13
percent, at 12,918.12.
 Six of its 10 main sectors were higher.
 The hefty materials group, home to mining companies, was
down 0.02 percent. Goldcorp G.TO was off 0.39 percent to
 "To sum it up quite easily: holiday trading mode. We're
slightly continuing this trend up a bit on stronger oil. But
overall it's dismal. It's pretty much like as if it's
Christmas. Volume is about 10 percent so far of a regular day,"
said Francis Campeau, a broker at MF Global Canada.
 "It's quite thin, so it could change quite fast."
 In individual company news, Bombardier BBDb.TO was down
0.62 percent at C$4.84. Britain said it would not announce
until the spring the winner of a major rail contract on which
Bombardier is bidding. [ID:nLDE6AO0BQ]
 Cameco Corp CCO.TO, which has signed a long-term
agreement to supply 29 million pounds of uranium concentrate to
China's state-owned nuclear power company, was up 1.25 percent
at C$38.05. [ID:nSGE6AN0DZ]
 ($1=$1.01 Canadian)
 (Editing by Peter Galloway)