TSX Extends Gains to 105 Points at Midday, But Miners Losing; Fed Minutes Eyed


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Canada's benchmark index added to its early gains, amassing 105 points at midday, with positive U.S. housing and inflation data boosting sentiments. Every major sector was in the green, except miners.

Data showed that the U.S. inflation in July slightly rose, matching expectations, as falling energy prices offset the increase in food prices and rents. With this, the market is expecting the Fed to keep interest rates low for a while, which the bank may confirm when it releases the minutes of its policy meeting.

The U.S. housing market also rebounded during the month.

In equities, energy issues led the surge with a 1.44% gain, driven by natural gas prices . Healthcare was a distant second, up 0.93%, as Valeant Pharmaceuticals (VRX.TO) added 1.51%. Financials rose 0.70%.

On the other hand, miners were the only ones in the negative territory, losing 0.05%, with gold prices down 0.28% at US$1,295.60 an ounce.

Volume traded so far surpassed 117 million shares. Western Forest Products (WEF.TO) was the most actively traded stock.

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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