CANADA STOCKS-TSX rises slightly as energy gains offset mining losses

Tue Oct 11, 2016 10:21am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

* TSX up 12.36 points, or 0.08 percent, to 14,578.62

* Seven of the TSX's 10 main groups move lower

TORONTO Oct 11 (Reuters) - Canada's main stock index moved slightly higher on Tuesday, helped by strong gains for energy shares catching up to higher oil prices while gold miners weighed with cheaper bullion.

At 10:06 a.m. EDT (1406 GMT), the Toronto Stock Exchange's S&P/TSX composite index had gained 12.36 points, or 0.08 percent, to 14,578.62. The exchange was closed on Monday, when the price of Brent oil hit its highest in a year.

The energy group climbed 1.1 percent, and the index's most influential movers included Suncor Energy, which rose 1 percent to C$37.25, and Cenovus Energy Inc, which advanced 2.2 percent to C$20.22.

U.S. crude prices were down 0.5 percent to $51.09 a barrel, while Brent lost 0.5 percent to $52.87.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 1 percent.

Barrick Gold Corp lost 2.3 percent to C$20.43, as the prospect of a December U.S. Federal Reserve interest rate hike weighed on gold prices.

Teck Resources Ltd advanced 4.1 percent to C$24.19. The company owns a 22.5 percent stake in one of Peru's top copper and zinc mines, which is planning to double its zinc output next year.

Shares in online gambling company Amaya Inc fell 5.1 percent to C$22.21 after surging late last week on confirmation the company is in talks to merge with William Hill plc.

Seven of the index's 10 main groups were lower, with decliners slightly outnumbering gainers overall. (Reporting by Alastair Sharp; Editing by Meredith Mazzilli)