TSX Up 38 Points Mid-Afternoon; Sectors Mostly Positive, Miners Still In the Lead
The TSX added another 16 points mid-afternoon, to reach 14371.95, as mining stocks further advanced despite weakness in the bullion. Comments from U.S. Fed Chairwoman Janet Yellen that the bank may raise interest rates earlier than expected caused investors to shy away from safe-haven assets, hurting gold prices . The bank's decision to scale back on its monetary stimulus program also weighed on the bullion.
Miners were up 1.1% versus its midday gain of 0.7%. Financials followed, up 0.6%. Energy rose 0.4% despite weak crude oil and natural gas prices .
The industrials and utilities sectors were still in the negative territory, down 0.7% and 0.3%, respectively.