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Resources Put TSX over Top

Jul 14, 2017 (Baystreet.ca via COMTEX) --

Equities in Canada's largest market finished the week on a high note, as resources and telecoms lent strength to the indexes on a generally light trading day.

The S&P/TSX Composite Index moved higher 39.81 points to finish the day and the week at 15,174.81

The Canadian dollar strengthened 0.52 cents to 79.06 cents U.S.

Barrick Gold was the most influential mover on the index, rising 30 cents, or 1.5% to $20.28. Late on Thursday, a union representing workers at the Zaldivar copper mine in Chile, owned by Barrick and Antofagasta Plc, said talks would resume after voting to strike earlier this week.

Goldcorp advanced nine cents to $16.47.

In other resource stocks, Agnico Eagle Mines ballooned 91 cents, or 1.6%, to 56.47, while First Majestic Silver gained 23 cents, or 2.4%, to $9.82.

Telecoms climbed with BCE prospering 41 cents to $58.16, while TELUS Corp. added 21 cents to $44.67.

The lone loser proved to be Constellation Software, swooning $3.86 to $655.99.

ON BAYSTREET

The TSX Venture Exchange recouped 4.62 points to 757.55

All but one of the 12 TSX subgroups were positive to end the day, with gold soaring 1.4%, materials better by 1.1%, and telecoms 0.9% to the good

Only techs missed the party, fading 0.2%

ON WALLSTREET

Stocks rose to record levels on Friday as earnings season kicked off.

The Dow Jones Industrials leaped 84.65 points to 21,637.74, to notch a new record

The S&P 500 gained 11.44 to 2,459.27, also at record levels it had not seen since June 19.

The NASDAQ added 38.03 points to 6,312.46

The major indexes have overcome several hurdles recently to climb back to record territory. First, tech stocks showed signs of weakness to close out the first half of the year. Tech has been the best-performing sector this year, rising about 20%.

The U.S. stock market has also overcome headlines regarding Russia's involvement in the U.S. election as they awaited the start of earnings season.

JPMorgan Chase, Citigroup and Wells Fargo all posted better-than-expected profits. Shares of JPMorgan and Citigroup fell, however, after reporting declines in trading sales.

One expert noted that, of the 30 S&P 500 companies that have reported, 80% have beat on the bottom line.

He added these companies have shown 15% earnings growth and 6.2% sales growth.

Prices for the benchmark 10-year Treasury note jumped Friday, lowering yields to 2.33% from Thursday's 2.36%. Treasury prices and yields move in opposite directions

Oil prices gained 51 cents to $46.59 U.S. a barrel

Gold prices boosted $10.50 to $1,227.80 U.S. an ounce.

********************************************************************** As of Monday, 07-10-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated an UPTREND on 06-05-2012 for AG @ $14.89. As of Monday, 07-

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Gold 1250.1
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