Markets

TSX Firmer Mid-Afternoon As Resources Hike, Financials Cut Losses; Up 38 Points

The TSX was ahead by a modest 38 points in mid-afternoon, building on its earlier gains, as energy and mining stocks continued to firm while financials reduced their losses.

The energy and mining sectors advanced 1.34% and 0.87%, respectively, mirroring the strength in gold and oil prices that drew support from a weakening U.S. dollar. Brent crude was above the US$57-per-barrel mark, having climbed nearly 4%, while gold was trading 1.83% higher at US$1,204.80 an ounce. Oil prices were also lifted by reports that said the ongoing nuclear talks between Iran and major powers, which could increase Iran's oil output, have hit a deadlock.

On the opposite side, utilities became the weakest group, shedding 0.46%. Industrials followed, easing 0.40%. Financials, the biggest drag at midday, was down only 0.20% after Royal Bank of Canada (RY.TO), which signed an agreement to sell its Suriname banking operations, turned positive.

Total volume traded already reached more than 226 million shares. Oil and gas producer Legacy Oil + Gas (LEG.TO), surging 5.19%, was the most heavily traded stock.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More