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Stockhouse & the Bell: Mining stocks take TSX higher, S&P at record close

Canadian Press, The Canadian Press
1 Comment| August 29, 2014

TORONTO _ The Toronto stock market closed higher as investors bought into beaten-down mining stocks.

The S&P/TSX composite index closed 67.56 points higher at 15,625.73. The Canadian dollar declined 0.22 of a cent to 91.97 cents US amid strong economic growth data. Canadian GDP ran up at an annual rate of 3.1 per cent in the second quarter, higher than the 2.7 per cent read that economists had expected.

Fears of a wider Russian incursion into Ukraine and a big letdown in U.S. consumer spending data held the Dow Jones industrials to a small gain. The Dow was up 18.88 points to 17,098.45 as U.S. consumer spending dropped 0.1 per cent last month, against the gain of 0.3 per cent that generally had been expected.

The Nasdaq ran ahead 22.57 points to 4,580.27 and the S&P 500 index was up 6.63 points to 2,003.37.

Investors watched the Ukraine conflict for signs of further escalation after the country's president reported that Russian forces had entered the southeastern part of the country.

European Union foreign ministers were meeting today to weigh adopting a tougher stance on the Ukraine crisis amid increasing calls to strengthen economic sanctions against Russia.

For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report


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v.MXR, 30 million shares o/s, management owns 29%, drilling completed on Nevada property in area of 3 other 1 million ounce plus gold mines, results expected with in the next 2 weeks.
4 stars
August 31, 2014
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