Canadian stock market advances as resources shares rebound

GMT 22:38 2014 Saturday ,15 November

Arab Today, arab today Canadian stock market advances as resources shares rebound

Canadian stock
Toronto - XINHUA

Canada's main stock market moved higher Friday as resources shares rebounded from a slump in the previous trading session.
Toronto Stock Exchange's benchmark S&P/TSX Composite Index was up 64.33 points, or 0.44 percent, to 14,843.10 points, with five of the eight major sectors in the rising streak.
Statistics Canada reported Canadian manufacturing sales rose 2. 1 percent in September to 53.0 billion Canadian dollars (about 47 billion U.S. dollars), the eighth gain in nine months, mainly supported by the increase of the aerospace products.
The industrial sector lost ground by 0.33 percent, but the aerospace stocks responded directly to the federal agency's data with the aerospace manufacturer CAE Inc. rallying 1.11 percent to 14.58 Canadian dollars and Bombardier Inc. also adding 0.25 percent to 4.06 Canadian dollars per share.
However, the fall was offset by the rebound of resources share.
The metals & mining sector was up 2.23 percent. Teck Resources Ltd. added 2.26 percent to 18.10 Canadian dollars; First Quantum Minerals Ltd. rose 2.95 percent to 17.46 Canadian dollars.
The gold shares advanced when the most active gold contract for December delivery jumped 24.1 U.S. dollars to 1185.6 dollars per ounce on the COMEX division of the New York Mercantile Exchange. The world's biggest gold producer Barrick jumped 5.49 percent to 13.83 Canadian dollars per share.
The TSX energy sector was also ahead 1.17 percent, when Suncor Energy Inc. gained 0.97 percent to 39.57 Canadian dollars. Cenovus Energy Inc. grew 2.48 percent to 28.07 Canadian dollars.
Financials, the index's most heavily weighted sector, was up 0. 04 percent. Royal Bank of Canada advanced 0.07 percent to 82.21 Canadian dollars, and Toronto-Dominion Bank gained 0.02 percent to 57.06 Canadian dollars.
Meanwhile, the healthcare sector and Telecom sector rose 0.24 percent and 0.35 percent, respectively.
On the currency front, the Canadian dollars went up Friday to 0. 8868 U.S dollar from 0.8790 U.S dollar Thursday.

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