TSX halts three-day slide

16 May, 2015

Canada's main stock index broke a three-day slide on Thursday in a broad rally in which gold miners gained on higher bullion prices as the US dollar weakened, but the heavyweight oil and gas sector fell along with crude prices. The Toronto Stock Exchange's S&P/TSX composite index ended up 47.40 points, or 0.32 percent, at 15,028.12. Nine of the index's 10 main sectors gained.
That followed a 1.2 percent drop over the previous three days, in which bond market gyrations and economic worries rattled investors. The price of bullion hit a three-month high as the US dollar came under pressure following mixed economic data that pushed back expectations for higher US interest rates. First Quantum Minerals Ltd, which mines gold as well as copper and other metals, gained 1.9 percent to C$18.44. Goldcorp Inc added 1.1 percent to C$23.49. Bombardier Inc shares rose 5.1 percent.

Read Comments