January 23, 2018 / 3:14 PM / 4 months ago

CANADA STOCKS-TSX reverses losses as oil, gold, global sentiment boost

    * TSX up 9.57 points, or 0.06 percent, at 16,357.98
    * Five of TSX's 10 main groups move higher

    TORONTO, Jan 23 (Reuters) - Canada's benchmark stock index
reversed earlier losses to close marginally higher on Tuesday,
lifted by positive sentiment globally as well as higher oil and
gold prices.  
    
    * The Toronto Stock Exchange's S&P/TSX composite index
          was up 9.57 points, or 0.06 percent, at 16,357.98.
Five of its 10 main industry groups ended in positive territory.
    * Kinaxis Inc         , which was up 10.6 percent at
C$84.18, was the biggest gainer on the index after saying it had
been chosen by Toyota Motor Corp          to manage automotive
demand and supply chain processes.
    * Among the biggest gainers were Birchcliff Energy         ,
up 9.3 percent, and New Gold Inc         , which closed 6.8
percent higher. 
    * The companies were lifted by a 2 percent jump in crude oil
futures to $64.78 a barrel, and a 0.5 percent rise in gold
prices to $1,340.81 an ounce.            
    * The rise in prices of the precious metal did not lift all
gold firms, however. Pretium Resources Inc          slumped 26.5
percent after the exploration company provided an operational
update for its Brucejack mine in northern British Columbia and
Credit Suisse downgraded the stock.
    * The heavyweight financials group was among the decliners
with a 0.2 percent drop, and industrials dipped 0.1 percent.

 (Reporting by Alastair Sharp and Nichola Saminather; editing by
G Crosse)
  
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