March 13, 2018 / 11:58 AM / 9 months ago

Toronto stocks gain, boosted by gold producers and energy

(Reuters) - Canada’s main stock index ended higher on Tuesday as gold and energy companies advanced and as comments from Bank of Canada Governor Stephen Poloz indicated the central bank will remain cautious in its policy decisions.

A Bay Street sign, the main street in the financial district is seen in Toronto, January 28, 2013. REUTERS/Mark Blinch

* The Toronto Stock Exchange’s S&P/TSX composite index rose 42.35 points, or 0.27 percent, to 15,647.14.

* The head of the Bank of Canada said there remains a degree of untapped potential in the Canadian economy, particularly in the labor market, that means the country may be able to generate more growth without higher inflation.

* The gold subsector rose 1.2 percent as gold prices climbed following the ouster of U.S. Secretary of State Rex Tillerson by President Donald Trump. Spot gold was up 0.3 percent at $1,326.49 an ounce.

* Materials and energy shares were among the biggest positive influences on the Toronto market. The materials index was up 1.1 percent, while the energy sector gained 0.5 percent

* U.S. crude prices settled down 68 cents, at $61.36 a barrel, on expectations that U.S. output will rise this year.

* Healthcare shares were up 0.1 percent, with Valeant Pharmaceuticals gaining after pricing an upsized senior note offering of $1.5 billion.

* The TSX posted six new 52-week highs and one new low. Across all Canadian issues there were 76 new 52-week highs and 24 new lows.

* The largest percentage gainer on the TSX was Torex Gold Resou, which rose 8.6 percent, while the largest decliner was Pason Sys, down 3.1 percent.

* Among the most active Canadian stocks by volume were Bombardier B, up 1.1 percent to $3.75; Neovasc Inc, down 15.6 percent to 19 cents, and Aurora Cannabis, down 2.2 percent to $11.40.

Reporting by Chuck Mikolajczak in New York; additional reporting by Caroline Valetkevitch in New York; Editing by Leslie Adler

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