Canadian stock regains momentum on easing geopolitical tension

GMT 03:16 2014 Friday ,15 August

Arab Today, arab today Canadian stock regains momentum on easing geopolitical tension

Canadian stock
Toronto - XINHUA

Canada's main stock regained momentum on Thursday as conciliatory comments from Russian President Vladimir Putin helped ease concerns about escalation of the conflict in Ukraine.
Toronto Stock Exchange's benchmark S&P/TSX Composite Index edged up 28.45 points or 0.19 percent to 15,291.18 points.
The main Canadian equities market was boosted as the lingering concern about a further escalation of the Ukraine crisis calmed down, after Putin said Thursday that his country will spare no efforts to facilitate an earliest end to the conflict in southeastern Ukraine.
In response, the most heavily weighed sector -- financials -- rallied 0.67 percent as the giant lender TD Bank added 0.73 percent to 56.90 Canadian dollars (about 52.19 U.S. dollars).
The country's biggest lender Royal Bank of Canada advanced 0.74 percent to 80.14 Canadian dollars after its asset management division RBC Global Asset Management Wednesday announced August 2014 cash distributions for funds holders.
Meanwhile, the healthcare logged the biggest gain of 0.88 percent helped by a rise in the Canadian drug maker Valeant. It strengthened 1.47 percent to 120.95 Canadian dollars as the U.S. Securities and Exchange Commission is probing into an offer jointly pursued by Valeant and activist investor William Ackman to acquire Allergan Inc., a U.S.-based Botox maker.
The real estate sector edged up 0.34 percent after Statistics Canada reported Thursday that the New Housing Price Index rose 0.2 percent in June, up slightly from the 0.1 percent gain in May. The increase was largely the result of higher new home prices in Ontario, with the combined metropolitan region of Toronto and Oshawa the top contributor to the growth.
The Toronto-based Canadian Apartment Properties Real Estate Investment Trust rallied 1.06 percent to 23.85 Canadian dollars, and Boardwalk Real Estate Investment Trust was up 0.58 percent to 67.41 Canadian dollars per share.
However, the mining sector tumbled 1.76 percent, the biggest slump among TSX sectors, as the gold shares lost ground over Putin 's comments with S&P/TSX Global Gold Index down 0.92 percent. Goldcorp Inc. declined 1.03 percent to 31.60 Canadian dollars and Eldorado Gold gave back 1.62 percent to 9.12 Canadian dollars.
On the currency front, the Canadian dollar climbed to 0.9172 U. S. dollar from 0.9160 U.S. dollar on Wednesday.

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