Canadian stock market surges due to financial sector gains – Xinhua

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TORONTO, Sept. 12 (Xinhua) — Canada’s main stock market saw its biggest gain in three months Tuesday due to financial sector gains while resource group also rose.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index surged 103.11 points, or 0.69 percent, to finish the day at 15,143.41. Nine of its 10 main groups rose.

Agrium gained 0.9 percent to 125.43 Canadian dollars and Potash Corp rose one perent to 22.40 Canadian dollars after Canada’s Competition Bureau said it will not challenge their proposed merger.

Bombardier rose 0.8 percent to 2.43 Canadian dollars as Britain and Canada team up to intervene in a dispute between the Canadian aircraft maker and Boeing Co.

The financials group gained, with Toronto-Dominion Bank up 0.6 percent to 66.80 Canadian dollars and insurer Manulife Financial rallied 0.5 percent to 24.07 Canadian dollars as Hurricane Irma appeared to have caused less damage than feared.

Energy shares tracked oil prices slightly higher, while Nuvista Energy Ltd shot up 5.8 percent to 6.91 Canadian dollars after it reaffirmed its 2017 guidance.

Centerra Gold gained 0.8 percent to 9.14 Canadian dollars, a day after saying it had reached an agreement with Kyrgyzstan over its Kumtor gold mine.

The Canadian dollar dropped 0.41 cent to 0.82.23 U.S. dollar while oil prices jumping 30 cents to 48.37 Canadian dollars and gold prices fell 4.20 to 1,331.50 U.S. dollars an ounce.

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