TORONTO: Canada's main stock index resumed a recent rally on Tuesday after a slip in the prior session, helped higher by gains among heavyweight banking and energy stocks, while materials stocks weighed. At 10:27 a.m. EDT (1527 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 53.04 points, or 0.35 percent, to 15,340.74. It earlier touched a fresh 19-month high of 15,381.03.
Eight of the index's 10 main groups were in positive territory, led by 0.7 percent gains for both the financials and energy sectors.
The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.3 percent. Oil prices were little changed, after sharp gains on the back on deals among producers to cut output.
Husky Energy Inc added 1 percent to C$17.06 after raising its 2017 production forecast and saying it would set aside more money for capital expenditure as its board had sanctioned several new projects.
Canadian Natural Resources Ltd rose 1 percent to C$17.06 a day after announcing the sale of its stake in the Cold Lake pipeline while maintaining access to the route to move its crude.
The financials group gained with Toronto-Dominion Bank up 0.8 percent to C$65.98 and Royal Bank of Canada up 0.7 percent to C$90.92.
Industrials rose 0.8 percent as Canadian National Railway Co bounced 0.9 percent to C$90.32. Teck Resources Ltd fell 5 percent to C$28.60.
Japan's biggest steelmaker Nippon Steel said on Tuesday it has agreed on a coking coal price for first quarter of 2017 with Glencore Plc and Teck that is 43 percent higher than the previous quarter.
Fertilizer makers Agrium Inc and Potash Corp both fell sharply after recent strong gains. AltaCorp downgraded Agrium on Monday after the stock's recent rally.
Comments
Comments are closed for this article.