Canada Stocks Close Higher; US Retail Sales Drive Gains; Teranga Gold Corporation Most Active
Canadian stocks closed higher on Tuesday, driven by Healthcare and Metals and Mining. Most sectors were higher, but Utilities and Financials capped gains.
Retails sales in the US came in better than expected driving stocks higher as yields rose. Headline retail sales increased 0.2 percent after a 0.4 percent rise November that was which was revised lower according to the Commerce Department. Economists had expected retail sales in December to rise 0.1 percent. Excluding auto, demand jumped by the most in almost a year.
Teranga Gold Corporation (TGZ.TO) was the most active share on the TSX with no fresh stock specific news driving volume. The stock closed up 5.2% with 31 million shares changing hands.