(MENAFN- ProactiveInvestors) Canadian shares advanced today as a leap in gold and oil prices lifted miners and energy producers. The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.8 percent to 15140.62 at 12:36 p.m. in Toronto. About six shares advanced for every stock that declined as eight out the ten main share groups were in the positive territory.
The materials sub-index which includes mining shares gained 2 percent as gold rose for a second straight session to trade near a three-week high.
(TSE:G) Canada’s largest gold miner by market value rose 2.4 percent to C$24.24 after agreeing to sell its 40 percent stake in the South Arturo mine project in Nevada to (). (TSE:ABX) the second-largest miner is 60 percent owner and operator of the gold project. will receive $20 million in cash at closing and a further 5% interest in the Rahill-Bonanza joint venture in Red Lake Ontario subject to Barrick not exercising its right of first refusal in respect of the South Arturo project. was up 4.7 percent to C$15.63.
U.S. gold for June delivery climbed 1.4 percent to $1218.20 an ounce.
The energy sector the main index's second most heavily weighted group added 1.8 percent as oil Canada’s largest export leaped as much as 5 percent. Energy (U) Canada's largest oil sands producer edged up 0.9 percent to C$39.00. (TSE:ENB) Canada's largest pipeline company spiked 1.2 percent to C$61.39.
() a Canadian energy and mining company jumped 4.8 percent to C$2.20 after saying the strike at its Ambatovy nickel-cobalt joint venture in Madagascar have ended and that the mine has returned to normal production. Desjardins said first-quarter projection at the mine was better than expected despite challenges at the site.
Brent May crude rallied $2.62 to $57.57 a barrel at 11:22 a.m. having reached $57.85 intraday. U.S. May crude was up $2.30 at $51.44 a barrel just below its $51.61 intraday peak. Oil rallied traders reassessed how quickly Iran could increase exports after a preliminary nuclear deal and anticipated that a months-long rise in U.S. inventories may be slowing.
Financials the index's most heavily weighted sector increased 0.6 percent. () which has the heaviest weighting in the index rose 1 percent to C$77.53. Toronto-Dominion Bank (TSE:TD) the second-largest bank by market value gained 0.4 percent to C$54.34.
() sank 4.7 percent to C$28.39 after saying its March load factor was 81.3 percent. Traffic was up 1.5 percent in March from a year earlier while capacity rose 4.8 percent. The air carrier noted that industry supply increases in certain southern markets are “running ahead of demand” resulting in depressed load factors.
The junior () gained 0.8 percent to 688.21 at 12:36 p.m. in Toronto.
In the U.S. market shares advanced rebounding from a selloff in futures after comments by a official refocused investors on the interest-rate implications of last week’s employment data. The S&P 500 (INDEXSP:.INX) rose 0.7 percent to 2082 at 12:03 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) increased 0.7 percent to 17894 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) edged up 0.6 percent to 4915. Most followed shares included Lumber Liquidators Shanda Games TrueCar Resonant and .
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