Off the wire
• Bayer Munich sink Dinamo Zagreb 5-0 in UEFA Champions League  • Colombian peace talks represents a light of hope for world: president  • Mexican government swears to uncover truth about disappearance of 43 students  • Pentagon caught surprised by Iraq's intelligence-sharing accord with Russia, Iran, Syria  • Feature: The man with sights on Downing Street: Britain's Labour Party leader takes conference by storm  • Roundup: U.S. stocks end mixed amid IMF warnings  • Russia's version of Facebook ordered to develop systems against illegal music downloads  • Russia, U.S. agree to cooperate in solving Syria crisis: Russian FM  • Feature: Chinese entrepreneurs support education for poor Kenyan children  • With South Sudan at crossroads, Ban urges parties to reaffirm commitment to peace  
You are here: 　 Home

Roundup: Canadian stock market inches higher ahead of GDP data

Xinhua, September 30, 2015 Adjust font size:

Canada's main stock market in Toronto gained slightly on Tuesday after a choppy session, one day before the release of GDP figures for July.

The Toronto Stock Exchange's benchmark Standard & Poor's/ TSX Composite Index gained 32.38 points or 0.25 percent to 13,036.96 points on the closing bell, after "Black Monday", when the index plummeted 373.99 points, or 2.8 percent, to close at 13,004.58 points.

Statistics Canada is to release the GDP data for July on Wednesday. Some analysts expected the data to be positive given that advance indicators turned higher.

The Canadian economy has shrunk for two straight quarters, which is generally defined as a "technical recession."

Meanwhile, the recover of the U.S. economy, widely seen as an influential boost for the Canadian exports, also has some clout over the Canadian market.

"We expect the U.S. economy to grow by around 2.5 percent between 2015 and 2017, with the Federal Reserve soon likely to engage in a gradual tightening cycle of about 75bp (base points) per year," according to a report released by TD Bank on Monday.

In sector performances, resources led the increase when the energy sector was up 1.54 percent and the mining sector added 1.14 percent.

The oil and gas giant Suncor Energy Inc. rallied 2.6 percent to 35.50 Canadian dollars and the base metals producer Teck Resources Ltd. jumped 6.05 percent to 6.31 Canadian dollars per share.

Financials, the most influential index, was also higher 0.88 percent when Canada's biggest lender Royal Bank of Canada advanced 1.34 percent to 72.00 Canadian dollars.

However, heath care extended losses by 4.26 percent as its heavyweight Valeant Pharmaceuticals International Inc. lost 4.4 percent to 212.06 Canadian dollars apiece.

On the economic front, Canada's industrial product price index declined 0.3 percent in August, mainly as a result of lower prices for energy and petroleum products.

The Canadian dollar on Tuesday lowered to 0.7453 U.S. dollar, when compared with 0.7466 U.S. dollar on Monday. Endit