Canadian shares advanced for the sixth time in seven days, with gains among banks, miners and industrials, amid thin trading as U.S. markets were closed for the Independence Day holiday.
The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.2 percent to 15,235.87 at 2:35 p.m. in Toronto. Almost five shares increased for every four stocks that decreased as 6 out of 10 main industries advanced.
The volume of shares traded on the index was 33.2 million shares as of 2:35 p.m.
The industrials group, the fourth heaviest on the index, was the biggest advancer with a 0.7 percent gain. Lassonde Industries Inc. (TSE:LAS.A), which makes fruit juices, fondue bouillons and sauces, surged 9.2 percent to C$120.00 after agreeing to acquire U.S. branded juice company Apple & Eve LLC in a $150 million deal that aims to strengthen its presence in the United States.
Financials, the index's most heavily weighted sector, picked up 0.4 percent. Royal Bank of Canada (TSE:RY), which has the heaviest weighting in the index, rose 0.3 percent to C$77.33. Toronto-Dominion Bank (TSE:TD), the second-largest bank by market value, increased 0.3 percent to C$55.31.
The materials sub-index, which includes mining shares, added 0.3 percent as gold futures gained slightly in electronic trade. Barrick Gold Corp. (TSE:ABX) inched up 0.1 to C$19.34. Goldcorp Inc. (TSE:G) climbed 0.9 percent to C$29.44.
Lake Shore Gold Corp. (TSE:LSG), which owns three complexes in the Timmins Gold Camp, gained 3.8 percent to C$1.10. The Toronto-based company reported record gold production in the second quarter, with output rising 70 percent from the year-ago period.
August gold futures rose 2 cents to $1,320.90 an ounce at 12:50 p.m.
The energy sector, the main index's second most heavily weighted group, fell 0.3 percent as oil, Canada’s largest export, fell in electronic trading. Suncor Energy Inc. (TSE:SU), the nation's largest energy company by market value, dipped 0.4 percent at C$45.33.
Canadian Natural Resources Ltd. (TSE:CNQ), the nation's largest producer of heavy crude, fell less than 0.1 percent to C$49.14.
Calfrac Well Services Ltd. (TSE: CFW), which provides drilling services for oil and natural-gas producers, gained 1.3 percent to C$21.56 after CIBC World Markets raised its price target on the stock to C$25 from C$22.50 and maintained a "sector outperformer" rating.
Oil for August delivery skidded 0.3 percent to 103.80 at 12:50 p.m.
BlackBerry Ltd. (TSE:BB), the Canadian smartphone maker, inched up 0.3 percent to C$11.32 after agreeing to sell its research and development department in Germany to Volkswagen Infotainment.
Enghouse Systems Ltd. (TSE:ESL), a software company, ticked up 0.8 percent to C$35.76 after acquiring Stockholm-based Basset AB for about C$10 million.
The junior S&P/TSX Venture Composite Index (CVE:OSPVX) slipped 0.2 percent to 1,035.32 at 2:58 p.m. in Toronto. Spartan Energy Corp. (CVE:SPE), the heaviest stock in the gauge, surrendered 0.5 percent to C$4.22.
Reported by Proactive Investors 7 hours ago.
The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.2 percent to 15,235.87 at 2:35 p.m. in Toronto. Almost five shares increased for every four stocks that decreased as 6 out of 10 main industries advanced.
The volume of shares traded on the index was 33.2 million shares as of 2:35 p.m.
The industrials group, the fourth heaviest on the index, was the biggest advancer with a 0.7 percent gain. Lassonde Industries Inc. (TSE:LAS.A), which makes fruit juices, fondue bouillons and sauces, surged 9.2 percent to C$120.00 after agreeing to acquire U.S. branded juice company Apple & Eve LLC in a $150 million deal that aims to strengthen its presence in the United States.
Financials, the index's most heavily weighted sector, picked up 0.4 percent. Royal Bank of Canada (TSE:RY), which has the heaviest weighting in the index, rose 0.3 percent to C$77.33. Toronto-Dominion Bank (TSE:TD), the second-largest bank by market value, increased 0.3 percent to C$55.31.
The materials sub-index, which includes mining shares, added 0.3 percent as gold futures gained slightly in electronic trade. Barrick Gold Corp. (TSE:ABX) inched up 0.1 to C$19.34. Goldcorp Inc. (TSE:G) climbed 0.9 percent to C$29.44.
Lake Shore Gold Corp. (TSE:LSG), which owns three complexes in the Timmins Gold Camp, gained 3.8 percent to C$1.10. The Toronto-based company reported record gold production in the second quarter, with output rising 70 percent from the year-ago period.
August gold futures rose 2 cents to $1,320.90 an ounce at 12:50 p.m.
The energy sector, the main index's second most heavily weighted group, fell 0.3 percent as oil, Canada’s largest export, fell in electronic trading. Suncor Energy Inc. (TSE:SU), the nation's largest energy company by market value, dipped 0.4 percent at C$45.33.
Canadian Natural Resources Ltd. (TSE:CNQ), the nation's largest producer of heavy crude, fell less than 0.1 percent to C$49.14.
Calfrac Well Services Ltd. (TSE: CFW), which provides drilling services for oil and natural-gas producers, gained 1.3 percent to C$21.56 after CIBC World Markets raised its price target on the stock to C$25 from C$22.50 and maintained a "sector outperformer" rating.
Oil for August delivery skidded 0.3 percent to 103.80 at 12:50 p.m.
BlackBerry Ltd. (TSE:BB), the Canadian smartphone maker, inched up 0.3 percent to C$11.32 after agreeing to sell its research and development department in Germany to Volkswagen Infotainment.
Enghouse Systems Ltd. (TSE:ESL), a software company, ticked up 0.8 percent to C$35.76 after acquiring Stockholm-based Basset AB for about C$10 million.
The junior S&P/TSX Venture Composite Index (CVE:OSPVX) slipped 0.2 percent to 1,035.32 at 2:58 p.m. in Toronto. Spartan Energy Corp. (CVE:SPE), the heaviest stock in the gauge, surrendered 0.5 percent to C$4.22.
Reported by Proactive Investors 7 hours ago.