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Canada Stocks Close Higher; US GDP Lifts Most Sectors; Teranga Gold Most Active

By: MT Newswires
Posted: 1/30/2014 4:01:00 PM
Referenced Stocks:

Canada stocks closed higher on Thursday, rebounding from Wednesday route. Most sectors were higher led by Industrials and Healthcare but Metals and Mining cap gains.

Stocks received a boost before the opening bell as the U.S. Commerce Department release their second look at 4th quarter GDP which came in as expected. The reading printed at 3.2%, with consumption coming in near 3.3%. Looking forward,

economists expect Statistics Canada to report that gross domestic product increased by 0.2% in November, slightly lower than the 0.3% gain in October.

Teranga Gold Corporation (TGZ.TO) was the most active share on the TSX after CIBC raised its target price on the gold producer to $1.30 from $1.20 while keeping a sector outperform rating. The stock closed up 7.1% with 8 million shares changing hands.