(MENAFN- ProactiveInvestors) Canadian shares rose on large gains among financials and miners. The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.6 percent to 15309 at 12:35 p.m. in Toronto. Five shares advanced for every four issues that declined as eight out of ten share groups were in the positive territory.
The materials sub-index which includes mining shares rose 1.2 percent as even as gold hit six-week low. (TSE:G) Canada’s largest gold miner by market value skidded 0.4 percent to C$22.61. (TSE:ABX) the second-largest inched down 0.1 percent to C$15.66.
(TSE:FM) a copper miner jumped 5 percent to C$19.41 even as it posted a first-quarter loss of C$0.14 per share compared with a profit of C$0.22 per year earlier. On an adjusted basis it lost 2 cents a share while revenue fell 27 percent.
(TSE:ELD) the Canadian producer with mines in China and Greece rose 3.3 percent to C$6.21 as its adjusted earnings beat expectations.
Norbord () a wood-panel company rose 1.5 percent to C$24.70 even after swinging to a first-quarter loss of 11 cents per share.
Spot gold fell 1 percent to $1171 an ounce at 10:39 a.m. while U.S. gold futures for June delivery were down $11.50 an ounce at $1170.
Financials the index's most heavily weighted sector gained 0.3 percent. () which has the heaviest weighting in the index added 0.3 percent to C$80.33. Toronto-Dominion Bank (TSE:TD) the second-largest bank by market value advanced 0.7 percent to C$56.08.
The energy sector the main index's second most heavily weighted group was little changed as oil Canada’s largest export fell. Energy (TSE:SU) Canada's largest oil sands producer was flat at C$39.29. (TSE:ENB) Canada's largest pipeline company gained 0.4 percent to C$63.31.
TransCanada (TSE:TRP) added 0.5 percent after the country’s second-biggest pipeline operator reported first-quarter results that were largely in line with analyst expectations.
() owner of the largest stake in closely held Syncrude Canada rose 2.1 percent to C$13.38. The Calgary company reported a net loss in the first quarter and further cut its 2015 capital-spending plan to cope with a sharp drop in crude-oil prices.
June crude lost 1 percent to $59.04 a barrel on the New York Mercantile Exchange.
The junior () added 0.2 percent to 697.10 at 12:37 p.m. in Toronto.
In economic news activity in the Canada's manufacturing sector shrank in April for the third month in a row as the new orders measure fell to its lowest level on record amid weaker demand in the energy sector data showed today.
In the U.S. market shares rallied as investors digested a raft of economic reports earnings and monthly car sales figures. The S&P 500 (INDEXSP:.INX) added 0.6 percent to 2097 at 11:44 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) added 0.7 percent to 17961 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.6 percent to 4972. Most followed shares included AIG Tesla CVS DreamWorks First Solar .
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