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CANADA STOCKS-TSX barely higher as miner stocks offset weaker energy
August 21, 2017 / 4:07 PM / 3 months ago

CANADA STOCKS-TSX barely higher as miner stocks offset weaker energy

(Adds details on specific stocks, updates prices)

* TSX up 4.01 points, or 0.03 percent, to 14,956.34.

* Seven of the TSX’s 10 main groups move higher

TORONTO, Aug 21 (Reuters) - Canada’s main stock index was barely higher in morning trade on Monday, as sharp gains for several base metal miners offset losses for heavyweight energy stocks which slipped in line with a decline in crude oil prices.

First Quantum Minerals Ltd jumped 6.6 percent to C$13.74 after Zambia restored full electricity supply to two of its copper mines on the weekend, after reducing them last week over a pricing dispute.

Copper highest a fresh high last hit in late 2014 also boosted First Quantum and other copper mining companies, with Hudbay Minerals Inc up 6.3 percent to C$10.59 and Lundin Mining Corp adding 2.8 percent to C$9.28.

Copper prices were up 1.4 percent at $6,574 a tonne.

The materials group, which also includes precious metal miners and fertilizer companies, added 1.1 percent. Six more of the index’s 10 main groups traded in positive territory.

At 11:50 a.m. ET (1550 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 4.01 points, or 0.03 percent, at 14,956.34.

The energy group retreated 1.3 percent, with Canadian Natural Resources Ltd down 1.5 percent at C$38.13, as U.S. crude prices fell 1 percent to $48.05 a barrel and Brent lost 1.5 percent to $51.95.

CannTrust Holdings Inc, traded at C$2.61 on its first day of public trade on the smaller Canadian Securities Exchange, after pricing convertible warrants at C$2 in June. (Reporting by Alastair Sharp; Editing by Nick Zieminski)

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