Canada Stocks Close Lower; Most Sectors Up; Utilities Worst Performer

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Canadian stock were boosted by uranium stocks on news out of Japan, but headwinds created gold stocks on lower bullion prices, weighed on the TSX.

Uranium miners Cameco Corp. (CCO.TO) and Denison Mines Corp. (DML.TO, DNN) gained 5% and 8.4% respectively after Japan's government hinted the country would continue to rely on nuclear generation for its power needs.

Among gold stocks, Goldcorp (G.TO) closed down 0.25% as gold futures recorded their biggest drop in almost a month.


Elsewhere, Barclays has an Equal Weight rating on Royal Bank of Canada (RY, RY.TO) compared to a Neutral rating for the industry. It lifted the price target on RBC to $75 from $72 after today's Q1 result. Barclays noted RBC reported core cash EPS of $1.47, above consensus of $1.44 and its estimate of $1.42.



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

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This article appears in: Investing , Commodities

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