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TSX at record high close as gold miners gain

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12/13/2017 | 10:47pm CEST
FILE PHOTO: A sign board displaying Toronto Stock Exchange stock information is seen in Toronto

TORONTO (Reuters) - Canada's main stock index closed at a record high on Wednesday but well off its session highs, as sharp gains for gold miners were offset by losses among energy companies and a fall in grocery retailer Empire Company Ltd.

* The Toronto Stock Exchange's S&P/TSX composite index ended up 22.56 points, or 0.14 percent, at 16,136.59.

* It had reached as high as 16,187.85 points but pared gains following news that the U.S. Federal Reserve had hiked rates but kept its 2018 rate outlook unchanged.

* Half of the TSX's 10 main groups moved higher, with advancers outnumbering decliners by a 1.5-to-1 ratio overall.

* The materials group, which includes precious and base metals miners and fertilizer companies, added 2.4 percent as gold miners jumped.

* Goldcorp rose 5.6 percent to C$15.98, Kinross Gold added 6.8 percent to C$5.21, and Barrick Gold was up 3.3 percent at C$18.13, as bullion bounced off five-month lows after the Fed news.

* The energy group retreated 1.5 percent, as oil prices fell with a larger-than-forecast rise in U.S. gasoline inventories and as U.S. crude output grew to record highs. [O/R]

* Empire Co, the parent company of the Sobeys grocery chain, fell 6 percent to C$24.59 after reporting earnings and saying it would rebrand as string of stores in Western Canada to a discount brand as part of an ongoing restructuring.

(Reporting by Alastair Sharp; Editing by Peter Cooney)

By Alastair Sharp

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.26% 1228.928 Delayed Quote.-6.40%
S&P/TSX COMPOSITE INDEX -0.81% 15404.13 Delayed Quote.-4.90%
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