TSX Closes 1.5% Higher, Led By Resources Stocks; Capstone Shows The Way

By Midnight Trader,  October 16, 2012, 04:02:05 PM EDT

Canada's main stock market - which is heavily weighted to resources stocks - made steady progress all day and closed up close to 180 points on renewed buying of resources stocks after they succumbed to some strong selling pressures in recent days amid fears of an economic slowdown in China, which would will slow demand for commodities even more.

Easily most active stock was Capstone Mining (CS.TO) which gained 2.5% with more than 10 million shares traded. Last Thursday, Capstone said 2012 third quarter production results were on track.

Gold futures closed higher on a weaker greenback. Gold for December delivery rose $8.70 to $1,746.30 an ounce on the Comex division of the New York Mercantile Exchange. Oil futures were buoyed by expectations that Spain will ask for a bailout. November crude settled at $92.09 a barrel, up 0.3%, on the New York Mercantile Exchange.




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.


This article appears in: Investing, Commodities

Referenced Stocks:



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