Canadian stock market edges up

Source: Xinhua| 2017-08-05 06:49:47|Editor: yan
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TORONTO, Aug. 4 (Xinhua) -- The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index rose 66.01 points to conclude at 15,257.97 Friday.

The financials sector edged up 0.4 percent as both Canadian and U.S. bond yields rose after jobs data in each country supported rate hike expectations although a jump in Canada's trade deficit weighed on the domestic currency.

The energy group climbed up 0.6 percent with Encana Corp up 49 cents, or 4.1 percent, to 12.32 Canadian dollars, and Cenovus Energy jumping 41 cents, or 4.1 percent, to 10.54 Canadian dollars even as oil prices ticked lower and headed for a weekly decline amid rising OPEC exports and strong U.S. output.

However, the materials sector fell 0.7 percent, with First Majestic Silver Corp down 11 percent to 8.62 Canadian dollars after its reporting disappointing earnings and outlook.

Gold miners were among the heaviest weights on the day as the spot price of the precious metal took a hit from the U.S. data supporting expectations of tighter monetary policy from the Federal Reserve.

Barrick Gold dropped 45 cents, or 2.1 percent to 21.02 Canadian dollars, Goldcorp fell 20 cents, or 1.2 percent to 15.89 Canadian dollars, and Kinross Gold fell 15 cents, or 2.8 percent, to 5.30 Canadian dollars.

The Canadian dollar edged down a cent to 0.7903 U.S. dollar while oil prices regained 45 cents to 49.48 U.S. dollars a barrel and gold prices remained in at 1,264.80 U.S. dollars an ounce.

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