Canada Stocks Close Higher; Most Sectors Climb; Yellen Tesimony Lifts Stocks

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Canadian stocks closed higher on Thursday, notching up a two-week high and closing in on a 2-week high. Most sectors were higher, lead by Energy, with Healthcare the only loser in an up-tape.

Statistics Canada reported today that prices of new houses in Canada were unchanged in September from August, breaking a 29-month streak of consecutive increases. Analysts had expected a 0.1 percent advance. The last time prices were flat was in March 2011.

Stocks received a boost during and after Fed Chairperson nominee Janet Yellen testified in front of the Banking sub-committee of the Senate. Yellen assured the Banking committee that she would continue the Fed's bond purchase program until the US economy recovered to full employment.

Barrick Gold Corp (ABX.TO) was the most active share on the TSX with no fresh specific stock news driving volume. ABX closed down 0.68% with 5.4 million shares changing hands.



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This article appears in: Investing , Commodities

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