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Canada's main stock index closes higher on New Year's Eve

English.news.cn   2014-01-01 07:37:40            

TORONTO, Dec. 31 (Xinhua) -- Canada's main stock index went up Tuesday to conclude this year's trade as investors looked optimistically ahead to 2014.

Toronto Stock Exchange's S&P/TSX composite index ended up 40.16 points, or 0.3 percent, at 13,621.55, when the market was positive for domestic and global economy. And the stock markets will be closed Wednesday for New Year's Day.

Latest data showed that American consumers turned more confident in December as hiring picked up, brightening the outlook for spending heading into 2014. The International Monetary Fund, in its October forecasts, expected global economic growth to pick up to around 3.6 percent in 2014, from roughly 2.9 percent this year.

Canada's economy performance in 2013 also strengthened investors' confidence. The latest Canadian gross domestic product figures indicated a positive handover from the final months of 2013. What's more, income and job growth, exports, the housing market and consumer spending are also expected to be healthy.

The S&P/TSX composite index was boosted by energy and mining sectors, which were up 0.47 percent and 0.77 percent individually. Canadian Natural Resources Ltd. was up 1.01 percent to 35.94 Canadian dollars. Osisko Mining Corporation added 2.61 percent to 4.71 Canadian dollars per share.

The index was also pushed up by the battered gold sector, which reversed losses from Monday. Goldcorp Inc. enjoyed 3.55 percent growth to 23.04 Canadian dollars. Barrick Gold Corporation advanced to 18.71 Canadian dollars by 2.80 percent as well.

However, the share price of Bombardier Inc., the Canadian maker of planes and trains, was down 0.65 percent to 4.61 Canadian dollars, even though it was reported Tuesday that it signed a multibillion-dollar deal to sell 38 business aircraft to an unidentified customer, a positive development for the company after its subway division ended a contract with the UK's London Underground.

The Canadian dollar was up to 0.9416 U.S. dollar Tuesday from 0. 9392 dollar in the previous session.

Editor: Mengjie
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