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Mining industry

Canadian Stocks Rise Despite European Debt Crisis Concerns

Strategic Insights

— 1 min read

Canadian stocks showed resilience in the face of ongoing concerns about the European debt crisis, as the S&P/TSX Composite Index closed up 54.32 points, or 0.41 percent, at 13,234.07 on Tuesday. The materials sector was a notable performer, with the index gaining 1.78 percent. Several gold mining companies also saw significant gains, including Barrick Gold Corp., Yamana Gold Inc., GoldCorp Inc., and Kinross Gold Corp.

Key Takeaways:

  • The S&P/TSX Composite Index rose 54.32 points, or 0.41 percent, to 13,234.07 on Tuesday.
  • The materials sector on the Toronto Stock Exchange (TSX) gained 1.78 percent.
  • Barrick Gold Corp. climbed 2.23 percent, while Yamana Gold Inc. rose 3.32 percent and GoldCorp Inc. surged 4.16 percent.
  • Kinross Gold Corp. added 2.54 percent, but Teck Resources Ltd. declined 1.13 percent, as did Manulife Financial Corp.
  • The S&P/TSX Venture Composite Index closed up 6.66 points, or 0.34 percent, at 1,951.89.
  • Gaz Metro has signed a definitive agreement to purchase Central Vermont Public Service Corp. (CVPS), pending shareholder and regulatory approval.
  • Canadian export growth was up 1.2 percent in May, while imports rose 1.1 percent, resulting in a slightly narrower trade deficit.

Statistics:

  • The S&P/TSX Composite Index increased by 54.32 points, or 0.41 percent, on Tuesday.
  • The materials sector index gained 1.78 percent.
  • Gold mining companies:

+ Barrick Gold Corp. +2.23%

+ Yamana Gold Inc. +3.32%

+ GoldCorp Inc. +4.16%

+ Kinross Gold Corp. +2.54%

  • The S&P/TSX Venture Composite Index rose 6.66 points, or 0.34 percent.
  • The Canadian dollar appreciated against its U.S. counterpart, with one U.S. dollar buying 0.9663 Canadian dollars at 5 p.m. local time (2200 GMT) on Tuesday.

Sources:

  • Xinhua News Agency
  • COMTEX
  • Statistics Canada
  • SmarTrend Alert
  • Comtex News Network, Inc.

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