CANADA STOCKS-TSX notches record high as resource shares climb

By Kitco News / January 02, 2018 / www.kitco.com / Article Link

(Adds details on market activity and updates prices to close)

* TSX ends up 100.86 points, or 0.62 percent, at 16,309.99

* Index posts record-high close

* Five of the TSX's 10 main groups end higher

* Energy rallies 2.3 percent, materials gains 2.7 percent


TORONTO, Jan 2 (Reuters) - Canada's main stock index rose to a record high on Tuesday, the first trading day of the year, as the recent rally in commodity prices boosted energy and gold mining shares, while marijuana producers also climbed.

* The Toronto Stock Exchange's S&P/TSX composite index ended up 100.86 points, or 0.62 percent, at 16,309.99, a record-high close. Five of its 10 main sectors ended higher.

* The energy group, which fell 12.6 percent in 2017, climbed2.3 percent, helped by a 6.1 percent gain for Cenovus Energy Inc to C$12.18.

* U.S. crude oil futures settled slightly lower at $60.37 a barrel after reaching mid-2015 highs in early trading. * The materials group, which includes precious and base metals miners and fertilizer companies, added 2.7 percent. Barrick Gold rose 4.6 percent to C$19.01 as gold extended its rally into the new year, touching late-September highs on a softer U.S. dollar. * Aurora Cannabis Inc jumped 23.1 percent to C$11.82 after saying it sold cannabis worth C$3.1 million in November, its highest ever. * A string of other marijuana companies also gained as Canada moves to legalize the production, sale and consumption of recreational marijuana by July 2018, with Canopy Growth Co up 8.8 percent to C$32.37 and Aphria Inc adding nearly 8.0 percent to C$20.19.

* The heavyweight financials group, which accounts for more than a third of the index's weight, slipped 0.1 percent, with Brookfield Asset Management Inc off 1.5 percent at C$53.89.


(Reporting by Fergal Smith and Alastair Sharp; Editing by Susan Thomas and James Dalgleish)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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