TSX rises as higher gold prices lift miners

Canada's main stock index rose on Thursday as gold prices jumped on the back of lower Treasury yields and a weaker dollar, while Barrick Gold Corp gained on a positive earnings forecast.

Canadian miner Barrick Gold Corp rose 1.6% after it maintained its full-year outlook even as gold production slipped nearly 9% in the first quarter, and also forecast higher output in the second half of the year as it ramps up some operations.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.8% as gold futures rose 0.9% to $1,750.1 an ounce.

At 8:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 113.82 points, or 0.59%, at 19,285.48.

Producer prices in Canada most likely rose by 1.6% in March from February, Statistics Canada said in a preliminary flash estimate. Excluding energy and petroleum products, the producer prices likely rose 1.3%.

The energy sector was unchanged as US crude prices were down 0.4% a barrel, while Brent crude lost 0.2%.

The financials sector gained 0.2%. The industrials sector rose 0.6%.

On the TSX, 167 issues were higher, while 54 issues declined for a 3.09-to-1 ratio favouring gainers, with 13.46 million shares traded.

The largest percentage gainers on the TSX were Martinrea International, which jumped 4.0%, and B2Gold Corp , which rose 3.6%.

Northland Power fell 6.3%, the most on the TSX, while the second-biggest decliner was Air Canada, down 1.8%.

The most heavily traded shares by volume were Royal Bank of Canada, St Augustin Gold & Copper and Nevada Copper, which was flat.

The TSX posted five new 52-week highs and no new lows.

Across all Canadian issues there were 73 new 52-week highs and four new lows, with total volume of 27.21 million shares.