TSX Up 46 Points Post Fed Minutes; Energy, Healthcare Still In The Lead, But Industrials Turn Negative
The TSX held on to gains even after the release of the minutes of the Federal Open Market Committee's policy meeting, with energy and healthcare stocks continuously leading the advance, offsetting losses in industrial shares. The benchmark index was up 46 points after the statement and was ahead by only 13 points prior to the release.
The Fed said it is keeping the federal funds rate unchanged in the range of 0.25% to 0.50% while continuously monitoring labor market conditions, which further strengthened, and the inflation, which is still below its 2% long-run target. The bank also noted that economic activity has been expanding at a moderate pace despite the global economic and financial developments of recent months.
Healthcare trimmed its earlier gains to 1.03%, with Valeant Pharmaceuticals (VRX.TO) turning negative, while energy rose 1.1%. Miners were up 0.8%. Only the industrial group was in the red, shedding 0.5%.
Total volume traded already exceeded 278 million shares. Niko Resources (NKO.TO) was the most actively traded stock.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.