TSX notches record high as resource shares climb
TORONTO (Reuters) - Canada's main stock index rose to a record high on Tuesday, the first trading day of the year, as the recent rally in commodity prices boosted energy and gold mining shares, while marijuana producers also climbed.
- The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 100.86 points, or 0.62 percent, at 16,309.99, a record-high close. Five of its 10 main sectors ended higher.
- The energy group, which fell 12.6 percent in 2017, climbed 2.3 percent, helped by a 6.1 percent gain for Cenovus Energy Inc (Toronto:CVE.TO - News) to C$12.18.
- U.S. crude oil futures settled slightly lower at $60.37 a barrel after reaching mid-2015 highs in early trading.
- The materials group, which includes precious and base metals miners and fertilizer companies, added 2.7 percent. Barrick Gold (Toronto:ABX.TO - News) rose 4.6 percent to C$19.01 as gold extended its rally into the new year, touching late-September highs on a softer U.S. dollar. [GOL/]
- Aurora Cannabis Inc (:ACB.TO) jumped 23.1 percent to C$11.82 after saying it sold cannabis worth C$3.1 million in November, its highest ever.
- A string of other marijuana companies also gained as Canada moves to legalize the production, sale and consumption of recreational marijuana by July 2018, with Canopy Growth Co (Toronto:WEED.TO - News) up 8.8 percent to C$32.37 and Aphria Inc (Toronto:APH.TO - News) adding nearly 8.0 percent to C$20.19.
- The heavyweight financials group, which accounts for more than a third of the index's weight, slipped 0.1 percent, with Brookfield Asset Management Inc (BAMa.TO) off 1.5 percent at C$53.89.
(Reporting by Fergal Smith and Alastair Sharp; Editing by Susan Thomas and James Dalgleish)