November 25, 2010 / 3:47 PM / 8 years ago

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

   * 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 C$46.13.
 “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)                                        

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