January 22, 2018 / 10:05 PM / 8 months ago

CANADA STOCKS-TSX dips as railroad and materials shares weigh

(Adds details on market activity, updates prices to close)

* TSX ends down 5.48 points, or 0.03 percent, at 16,347.98

* Four of the index’s 10 main groups end lower

* Industrials and materials both fall 0.6 percent

* Home Capital Group Inc climbs 10.5 percent

TORONTO, Jan 22 (Reuters) - Canada’s main stock index edged lower on Monday as railroad and materials shares declined, offsetting gains for the energy group, which was supported by higher oil prices.

* The Toronto Stock Exchange’s S&P/TSX composite index fell 5.48 points, or 0.03 percent, to 16,347.98.

* The modest decline came ahead of the resumption of talks on Tuesday to renegotiate the North American Free Trade Agreement.

* Losses for the index were pared as stocks on Wall Street reached record highs after a deal by U.S. senators to end the federal government shutdown.

* The industrials group, which includes railroad stocks, declined 0.6 percent. Canadian National Railway Co, which is due to report fourth-quarter earnings on Tuesday, fell 1.6 percent to C$99.39, while Canadian Pacific Railway Ltd was down 0.8 percent at C$231.66.

* The materials group, which includes precious and base metals miners and fertilizer companies, also lost 0.6 percent.

* Teck Resources Ltd declined 1.4 percent to C$36.27, while Franco-Nevada Corp, which acquired an additional precious metals stream at the Cobre Panama mining project, fell 3.4 percent to C$94.51.

* Gold futures fell 0.3 percent to $1,328.4 an ounce.

* Just four of the index’s 10 main groups ended lower

* The energy group gained 0.4 percent as oil prices rose. U.S. crude oil futures settled 0.4 percent higher at $63.62 a barrel.

* The largest percentage gainer on the TSX was Home Capital Group Inc, which climbed 10.5 percent after TD Securities raised its target price on the stock to C$21 from C$17.

* The overall financial services group, which accounts for more than one-third of the TSX’s weight, rose 0.1 percent. It was helped by gains for some of the country’s major banks, with Toronto-Dominion Bank advancing 0.5 percent to C$74.41.

* Among the most active Canadian stocks by volume was Aurora Cannabis, which rose 7.6 percent to $14.50 after Reuters reported on Friday that the marijuana producer was in talks to buy CanniMed Therapeutics Inc and Newstrike Resources Ltd in a friendly deal.

* Investors are betting Canada’s smaller financial firms could see a jump in revenues after they helped fund marijuana companies ahead of the country’s planned legalization of the drug this year. (Reporting by Fergal Smith; Editing by Andrea Ricci and Peter Cooney)

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