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