TSX Edges Up 12 Points in Light Trading; Firm Miners Offset Weak Energy Stocks
The TSX added 12 points at midday with lighter-than-usual volume, as gains in mining stocks helped cushion the impact of falling energy shares.
Gold and oil prices fell on Friday, with oil reacting negatively to increasing drilling activity in the U.S. Reports said rig count rose by 12 to 640 this week after 29 weeks of declines. The bullion was down moderately at US$1,167.60 an ounce, while Brent crude dove 3% to US$60.33 a barrel.
Meanwhile, investors still have their eyes on the Greek debt crisis. Greeks are voting on Sunday on the bailout deal offered by the country's international lenders. Reports, however, said that Prime Minister Alexis Tsipras is urging the people to say "no," calling the deal a "blackmail."
The major sectors were mixed at midday, with miners leading in the positive territory with a 0.83% gain. They were closely followed by industrials, which rose 0.73% after Bombardier (BBD-B.TO) edged up 1.30% on the back of a new contract win. Financials were up 0.40%.
On the opposite side, energy tumbled 0.67%. Healthcare, which was one of the lead advancers in the last few trading days, retreated 0.56%.
With U.S. markets closed for the holiday, total volume traded so far in Canada stood at 47.7 million shares only. Bombardier was the most heavily traded stock.
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