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TSX Stays Positive


Canada’s main stock index climbed on Thursday for the second consecutive day, supported by a rise in materials stocks on higher prices of gold and copper, while lower crude prices weighed on energy shares.

The TSX Composite remained above water 45.07 points to reach noon Thursday at 20,159.03.

The Canadian dollar slipped 0.03 cents at 73 cents U.S.

The energy sector was flat after the postponement of an OPEC+ meeting stoked expectations that the group might not deepen output cuts next year.

Shares of First Quantum Minerals gained 0.5%, after brokerage BMO increased their price target on the copper miner. First Quantum shares

Empire Company shares fell 2.6% to the bottom of TSX after National Bank of Canada downgraded the food retail and distribution firm’s stock to “Sector Perform” from “Outperform”.

ON BAYSTREET

The TSX Venture Exchange picked up 2.28 points to 530.22.

The 12 TSX subgroups were evenly split, with industrials up 0.5%, information technology gaining 0.4%, and financials up 0.3%.

The half-dozen laggards were weighed by consumer staples, drooping 0.6%, gold, dulling 0.2%, and utilities, sliding 0.1%.

Oil prices fell $1.19 to $75.91 U.S. a barrel.

Gold prices sagged 10 cents to $1,992.70 U.S. an ounce.

ON WALLSTREET

U.S. markets are closed Thursday for Thanksgiving Day. They will return for a shortened session on Friday.

Happy Thanksgiving, Uncle Sam!



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