Markets

TSX at 2pm: TSX Pares Gains as Bernanke Hints Bond-Buying Program Will Continue

The Toronto stock market was higher in afternoon trading, though off earlier triple digit gains, after the head of the U.S. central bank said ending the country's bond-buying plan prematurely could damage the economy, raising investor hopes the stimulus program will continue.

The S&P/TSX Composite Index was up 66 points at 12,808, down sharply from earlier highs of 12,889.

The materials sector led advancers, climbing more than 2% as gold stocks rose. Only the tech sector was in negative territory.

Heavily traded B2Gold (BTO.TO) gained 5% while Kinross (K.TO) added 6%.

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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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