TORONTO (Reuters) - Canada’s main stock index slipped on Thursday, weighed by gold miners and energy stocks including Husky Energy Inc (HSE.TO) and Barrick Gold Corp (ABX.TO), which were both hit by sanctions from regulators, while banks moved higher.
- The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended down 42.23 points, or 0.26 percent, at 16,284.47. Half of the index’s 10 main groups were in positive territory, although decliners were slightly outnumbering advancers.
- Husky fell 6.8 percent to C$17.77 after it said on Wednesday evening that Canadian regulators had ordered it to halt operations at its SeaRose floating production vessel after an iceberg came too close to the facility in March 2017. At least two brokerages lowered their ratings on the stock following the news.
- The broader energy group retreated 1.4 percent, although oil prices held steady. [O/R]
- Barrick fell 2.5 percent to C$17.71 after environmental regulators ordered the world’s largest gold producer to close the Chilean side of its stalled Pascua-Lama mining project but reduced a 2013 fine for violations to $11.5 million.
- The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.2 percent.
- Oceanagold Corp (OGC.TO) rose 4.4 percent to C$3.32 after saying it produced a record amount of gold in 2017, while Hudbay Minerals Inc (HBM.TO) fell 6.2 percent to C$11.73 after it released its 2018 production and cost guidance.
- The financials group gained 0.1 percent, boosted by banks, after the Bank of Canada raised interest rates on Wednesday. Royal Bank of Canada gained 0.6 percent to C$106.91 and Toronto-Dominion Bank (TD.TO) was up 0.4 percent at C$73.76.
Reporting by Alastair Sharp; Editing by Meredith Mazzilli and Rosalba O'Brien