CANADA STOCKS-Gold miners and pot stocks push TSX higher

By Kitco News / January 15, 2018 / www.kitco.com / Article Link

(Adds details on specific stocks, updates prices to close)

* TSX ends up 63.63 points, or 0.39 percent, at 16,371.81

* Seven of the TSX's 10 main groups move higher


TORONTO, Jan 15 (Reuters) - Canada's main stock index gained on Monday, boosted by a bounce-back in shares of cannabis producers and sharp gains for gold miners as bullion prices hit a four-month high.

* The Toronto Stock Exchange's S&P/TSX composite index closed up 63.63 points, or 0.39 percent, at 16,371.81. Seven of its 10 main sectors were higher, while consumer staples and discretionary groups weighed.

* The materials group, which includes precious and base metals miners and fertilizer companies, added 1.6 percent as a weaker U.S. currency boosted the price of gold to its highest since September. * Some of the world's biggest gold miners were among the index's most influential gainers, with Goldcorp Inc jumping 6.8 percent to C$19.10 and Barrick Gold Corp up 3.2 percent at C$19.49.

* Cannabis companies bounced back after heavy losses late last week, with Canopy Growth Corp jumping 12.8 percent to C$36.50 and Aphria Inc surging 20.4 percent to C$21.70.

* Cannabis companies have broadly jumped in recent months as Canada moves towards legalizing recreational use, but investors booked some profits last week after the U.S. federal government rescinded an order that had eased enforcement of federal law in states where the drug has been made legal.

* BlackBerry Ltd , which launched new cybersecurity software which identifies vulnerabilities in programs used in self-driving cars, ended 2.8 percent higher at C$17.48. * The energy group climbed 0.4 percent as oil prices hovered near a three-year high, while financials gained 0.2 percent, with Sun Life Financial Inc up 2.8 percent at C$53.78 after two brokerages raised their price targets on the stock.


<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ PRECIOUS-Gold hits 4-month high as dollar index falls to 3-year low UPDATE 7-Oil hovers below $70 highs, clouded by rise in U.S. output CANADA FX DEBT-C$ rises vs weaker greenback ahead of potential rate hike ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Reporting by Alastair Sharp; Editing by Nick Zieminski and Diane Craft)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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