TSX Up 33 Points Mid-Afternoon As Miners Extend Climb
The TSX rose 33 points in the mid-afternoon session, reversing its morning decline, boosted by the continuous rally in mining stocks.
Benchmark Brent crude turned lower in the afternoon but remains steady as investors turn their attention to a DBRS report that says prices are expected to still be under pressure in 2016 due to OPEC's display of discord at its recent gathering, a continued oversupply of global oil markets, the near-term prospect of additional Iranian oil exports once Western sanctions are lifted, and a mild start to winter in the Northern Hemisphere. Brent was last down 0.1% at US$36.30/barrel.
Also in the news, Dominion Diamond (DDC.TO) said it is open for a dialogue to tackle its policies that certain investors claim to have unduly hurt its stocks. The stock was ahead by 22% recently.
Miners continued to lead advancing 3.2%. Healthcare followed with a modest gain of 0.7%. On the other side, energy slipped 0.04%, while financials shed 0.1%.
Total volume traded so far exceeded 195 million shares.
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