AFTER THE BELL: TSX snaps losing streak, Canadian mining company strikes gold
The TSX managed to push past NAFTA trepidation today, as the index hit positive territory for the first time in seven days.
Canada’s stock exchange moved up 37 points with nine of 11 major sectors in the green. Health care was among the leaders, up more than a percent while the influential industrials sector also traded higher.
Across the border, escalating trade tensions between China and the U.S. didn’t rattle investors.
The Dow rose 113 points while the Nasdaq was 48 points higher, paced by strong showings from Apple and Nike.
Apple’s stock jumped 2.5 percent with the mega tech company set to launch three new iPhones among other products tomorrow.
In the wake of the Colin Kaepernick ad controversy, Nike continued its climb, with shares rising more than half a percent. Nike’s stock price is nearing a 52-week high.
Oil prices rose $1.85 to $69.40 US a barrel with U.S. sanctions on Iranian crude exports tightening global supply, while gold increased $2.50 to $1,197 an ounce.
The loonie made major headway, rocketing more than a half a cent higher to $0.7648 cents US.
Meanwhile, a Canadian junior mining company was the most actively traded on the TSX today. RNC Minerals’ stock blew up, jumping 65 percent after its employees discovered 9,250 ounces of high grade gold worth an estimated $15 million in a gold mine in Australia.