(Reuters) - Canada’s main stock index gained on Friday after a rise in gold prices lifted shares of precious metal miners and higher oil drove gains in energy shares.
- Gold prices rose as the U.S. dollar came under pressure. [GOL/]
- Eight of the index’s 11 major sectors were higher, led by the material sector’s .GSPTTMT 1.2 percent rise.
- The energy sector .SPTTEN climbed 0.9 percent as U.S. crude CLc1 prices were up 1.7 percent per barrel, while Brent crude LCOc1 added 1.6 percent. [O/R]
- At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 27.9 points, or 0.17 percent, at 16,354.69.
- Enbridge (ENB.TO) fell 1.8 percent, and was the biggest drag after the country’s largest pipeline operator said it would buy its U.S. master limited partnership Spectra Energy Partners (SEP.N) for a sweetened $3.3 billion deal.
- Marijuana stocks gained after a Bloomberg report that U.K. alcohol giant Diageo (DGE.L) is holding serious discussions with at least three major cannabis producers as it seeks to add marijuana-infused beverages to its portfolio of global brands.
- Aphria (APH.TO) rose 5.4 percent, the most on the main index, while Canopy Growth (WEED.TO) and Aurora Cannabis (ACB.TO) gained about 2 percent each.
- MAG Silver Corp (MAG.TO) gained 4 percent and was the second-biggest percentage gainer on the TSX.
- On the TSX, 142 issues were higher, while 96 issues declined for a 1.48-to-1 ratio favoring gainers, with 21.62 million shares traded.
- Parkland Fuel (PKI.TO) fell 2.5 percent, the most on the TSX, and the second-biggest decliner was Corus Entertainment (CJRb.TO), which was down 2 percent.
- The most heavily traded shares by volume were those of Aurora Cannabis, Red Eagle Mining (R.TO) and Aphria.
- The TSX posted four new 52-week highs and no new lows.
- Across all Canadian issues there were eight new 52-week highs and three new lows, with total volume of 32.36 million shares.
Reporting by Amy Caren Daniel in Bengaluru
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.