Canada Stocks Close Higher; BOC Leaves Rates Unchanged; Most Sectors Higher; Denison Mines Corp. Most Active


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The TSX closed higher on Wednesday climbing 17 points and closing just one point off session highs. It reversed earlier losses after the index tested support near the 10-day moving average at 12,692. Most sectors where higher, with Utilities and Industrials posting the largest sector gains.

The Bank of Canada announced earlier in the trading session that they would keep key interest rate unchanged but signaled it has concerns about global economic uncertainty and the health of the country's export sector.

Energy shares faced headwinds as WTI crude oil closed down $1.31 to $107.23 on the New York Mercantile Exchange. Traders squared positions ahead of this evenings API petroleum inventory report. Expectations call for a 2.5 million barrel decline in crude stocks for the week ended Aug. 30, according to a Platts survey of energy analysts.

Denison Mines Corp. (DML.TO) was the most active stock, with no fresh specific stock news driving volume. The stock closed down 1.65% with 3.6 million shares changing hands.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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