Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

CANADA STOCKS-TSX ends up, Linamar jumps on acquisition

Published 2017-12-15, 04:31 p/m
Updated 2017-12-15, 04:40 p/m
© Reuters.  CANADA STOCKS-TSX ends up, Linamar jumps on acquisition

© Reuters. CANADA STOCKS-TSX ends up, Linamar jumps on acquisition

* TSX ends up 25.52 points, or 0.16 percent, at 16,041.98

* Seven of TSX's 10 main industry groups move higher

* Decliners slightly outnumber advancers overall

By Alastair Sharp

TORONTO, Dec 15 (Reuters) - Canada's main stock index rose on Friday, helped by a sharp jump in auto parts maker Linamar Corp LNR.TO after it announced plans to buy an agricultural equipment maker, while financial stocks and base metal miners also gained.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 25.52 points, or 0.16 percent, at 16,041.98. It lost 0.3 percent over the course of the week after hitting an all-time high on Wednesday.

* Seven of the index's 10 main sectors finished in positive territory, although decliners slightly outnumbered gainers overall.

* Linamar surged 11.5 percent to C$72.50 after saying after the bell on Thursday it had agreed to buy privately held MacDon Group of Cos for C$1.2 billion ($937 million). The materials group, which includes precious and base metals miners and fertilizer companies, added 0.6 percent, with First Quantum Minerals Ltd FM.TO up 4.6 percent at C$17.12 and Teck Resources Ltd TECKb.TO adding 2.7 percent to C$30.67.

* The energy group retreated 1.0 percent, with Encana Corp ECA.TO down 3.7 percent at C$14.27 and Cenovus Energy Inc CVE.TO off 3.6 percent at C$10.86.

* Industrials rose 0.5 percent while the financials group gained 0.2 percent as insurer Manulife Financial Corp MFC.TO rose 1.2 percent to C$26.70 and Royal Bank of Canada RY.TO added 0.5 percent to C$101.92.

($1 = 1.2809 Canadian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.