TSX Turns to Small Gain As Miners, Energy Offset Slumping Financials; Up 19 Points Mid-Afternoon
The TSX changed course by mid-afternoon and gained a modest 19 points, as the continuous climb in mining and energy shares helped cushion the impact of falling financial shares.
Weaker-than-expected growth in U.S. non-farm payrolls took a toll on the dollar, lifting commodity prices. By mid-afternoon, prices of gold, copper, and oil were all higher, benefiting resource stocks. According to reports, the U.S. added only 142,000 non-farm jobs in September, significantly lower than the 203,000 additional jobs expected by economists.
The mining and energy groups surged 4.21% and 1.28%, respectively. On the opposite side, financials plunged by 2.04%, and health care shed 0.32%.
Total volume traded already exceeded 228 million shares. Capstone Mining (CS.TO) was the most actively traded stock.
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