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Gold Sector Takes TSX Out Of Its Slump

Gold Sector Takes TSX On Thursday the Toronto stock market snatched a four-session losing run with gold sector gains in the lead in the wake of sturdy earnings reports from Agnico-Eagle Mines and Goldcorp Inc.

The S&P/TSX composite index closed up 1.5.21 points at 12,300.23 as traders took earnings reports from a bunch of other companies. Colin Cieszynski, a market analyst at CMC Markets Canada said that a lot of numbers coming out of Canada were in-line and positive and that certainly helping things – so far so good for Canada.

The TSX exchange gained 16.79 points.

The Canadian Loonie was off highs but closed up US .1 cent yo US 61 cents s markets additionally got a boost from data that demonstrated Britain’s economy emerged from recession in the third-quarter after a nine month downturn.

American indexes started strong in the session on the wake of a solid earnings report from American multinational consumer products giant Procter & Gamble. However, gins faded when a report showed the number of Americans who signed mortgage contracts to buy houses rose slightly in September, suggesting that sales may level off in the next few months after solid gains in the last year.

The Dow Jones was 26.34 points ahead to 13,103.68 as the National Association of Realtors said it is seasonally adjusted index of sales agreements increased in September to a reading of 99.2.

The S&P 500 index was up 4.22 points and the Nasdaq gained 4.42 points to 2,986.12.

 

 

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Posted by on Oct 29 2012. Filed under Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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