Canada Stocks Fluctuate as Mining Stocks Gain; TransForce Drops
Canadian stocks were little changed as gains among gold mining stocks was offset by losses in energy producers.
Barrick Gold Corp. (ABX) and Gabriel Resources Ltd. rallied at least 4.3 percent as gold futures climbed above $1,400 an ounce. TransForce Inc. (TFI), a Montreal-based trucking company, slumped 6.3 percent after reporting first-quarter sales that missed analysts’ expectations. TMX Group Ltd. dropped 2.3 percent after analysts with TD Securities lowered the stock’s rating. Suncor Energy Inc. and Encana Corp. slipped more than 1 percent.
The Standard & Poor’s/TSX Composite Index (SPTSX) rose 6.49 points, or less than 0.1 percent, to 12,002.83 at 10:06 a.m. in Toronto. The benchmark equity gauge has fallen 2.7 percent this week.
Canada’s consumer price index rose 1 percent in March from a year ago following a 1.2 percent gain the prior month, Statistics Canada said today from Ottawa. The Bank of Canada said April 17 inflation will remain below policy makers’ 2 percent target until the second quarter of 2015 as slower growth creates more slack in the world’s 11th largest economy.
To contact the reporter on this story: Eric Lam in Toronto at firstname.lastname@example.org
To contact the editor responsible for this story: Lynn Thomasson at email@example.com