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Roundup: Canadian stock market inches up over miners' rebound

Xinhua, March 6, 2015 Adjust font size:

Canada's main stock market inched up Thursday when the mining sector rebounded from the slump from last session.

Toronto Stock Exchange's benchmark S&P/TSX Composite Index was higher 20.27 points or 0.13 percent to 15,103.11 points.

Metals and mining bounced up 0.68 percent from a slump of 1.98 percent on Wednesday as the basic metals group rallied. Teck Resources Ltd., the producer of steelmaking coal, copper, zinc and lead, advanced 0.81 percent to 18.78 Canadian dollars (about 15.02 U.S. dollars), and Lundin Mining Corp. rallied 1.16 percent to 5. 23 Canadian dollars.

Meanwhile, the trading sentiment was also boosted as Canadian Natural Resources Ltd. said Thursday that it almost tripled its profit to 1.2 billion Canadian dollars in the fourth quarter of 2014. The largest heavy oil and natural gas producer in Canada jumped 5.06 percent to 38.64 Canadian dollars in its stock price.

Industrials added 0.65 percent when railway and aircraft maker Bombardier added 3.06 percent to 2.36 Canadian dollars per share.

Financials and info tech shares were slightly higher by 0.19 percent and 0.34 percent respectively.

The only two losers in the eight most weighed sectors were energy and healthcare, which lost 0.07 percent and 0.09 percent individually.

On the economic front, a newly released study by Canadian Imperial Bank of Commerce (CIBC) said the quality of jobs in Canada hits a 25-year low, when the CIBC Employment Quality Index is currently at a record low - 15 percent below the rate seen in the early 1990s and 10 percent below the level seen in the early 2000s. On a year-over-year basis, the index is down by 1.8 percent.

As for currency, the Canadian dollar on Thursday moved lower to 0.7996 U.S. dollar from 0.8054 U.S. dollar Wednesday. Endite