Roundup: Canadian stock market closes mixed amid rising commodity prices
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E-mail Xinhua, April 30, 2013
The Canadian stock market ended mixed Monday as the prices kept rising across the board on the commodity market.
The S&P/TSX Composite Index rose 92.47 points, or 0.76 percent, to 12,312.67, but the S&P/TSX Venture Composite Index slightly decreased 0.29 points, or 0.03 percent, to 964.93.
The main index on the Toronto stock market rose Monday as commodity prices from copper to gold gained broadly and traders looked ahead to a busy week of quarterly earnings reports to be released by a group of big Canadian companies in the mining, energy and financial sectors.
The sharp rise in the main index was led by heavyweight metals and mining sector. As July copper on the New York Mercantile Exchange gained about 1 percent to 3.22 U.S. dollars a pound, the metals and mining sector rose 1.3 percent, with diversified miner Teck Resources going up 0.5 percent to 26.40 Canadian dollars per share.
The energy sector climbed 0.9 percent, with the June crude oil contract on the New York Mercantile Exchange up 1.5 percent to 94. 35 U.S. dollars a barrel. Canadian energy giant Suncor Energy was up 1.2 percent to 29.64 Canadian dollars per share as the company is preparing to release its first quarter earnings after the market closed Monday. Analysts expected its net earnings to triple the amount made a year earlier.
The financial sector was another component that had the biggest positive influence on the main index. Royal Bank of Canada added 1 percent to 60.64 Canadian dollars per share and Toronto-Dominion Bank gained 1.2 percent to 82.04 Canadian dollars a share.
Other important Toronto-listed companies that will publish earnings reports this week include Kinross Gold, First Quantum Minerals and Manulife Financial.
Investors will also keep an eye on the U.S. Federal Reserve's assessment of the American economy over the next few months after the American central bank concludes its two-day meeting Wednesday.
At closing, the Canadian dollar moved up to 0.9886 U.S. dollars at 5 p.m. local time (2100 GMT), compared with 0.9835 U.S. dollars last Friday. Endi
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