The junior S&P/TSX Venture Composite Index ( CVE:OSPVX) surrendered 0.5 percent to 864.11 at 12:32 p.m. Gold futures for December delivery gained 0.3 percent to $1,210.60 an ounce at 10:13 a.m. Franco-Nevada said it will provide an upfront deposit of $648 million for the stream. The company said it has agreed to buy a gold and silver stream on production from the Candelaria and Ojos del Salado mines in Chile from Lundin on closing of Lundin’s purchase from Freeport-McMoRan.
The move would more than double Lundin’s copper production.įranco-Nevada ( TSE:FNV), a resource royalty and investment company, was up 0.2 percent at C$53.47. The company agreed to buy Freeport-McMoRan’s (TSE:LUN) controlling stake in Chile’s Candelaria copper mine for $1.8 billion. Lundin Mining (TSE:LUN), a Canadian copper and zinc producer, fell 1.5 percent to C$5.25. Goldcorp (TSE:G) tanked 1.3 percent to C$25.44. Barrick Gold (TSE:ABX) sagged 2.9 percent to C$15.38.
Raw-material shares sank 0.8 percent even as gold futures rose for the second straight day. West Texas Intermediate for November delivery fell 0.9 percent to $89.49 a barrel on the New York Mercantile Exchange. New York time on the London-based ICE Futures Europe exchange. Canadian Natural Resources ( TSE:CNQ), the country's second-largest oil and gas company, slid 0.6 percent to C$41.11.īrent for November settlement declined 1.2 percent to $91.68 a barrel at 12:09 p.m. Suncor Energy (TSE:SU), Canada's largest oil sands producer, skidded 0.5 percent to C$39.40. The energy sector, the main index's second most heavily weighted group, was up 0.1 percent. Milestone Apartments Real Estate Investment Trust (TSE:MST.UN) slumped 2.6 percent to C$11.42 after agreeing to buy a 221-unit multifamily apartment complex in Colorado for US$40.5 million. Toronto-Dominion Bank (TSE:TD), the second-largest bank by market value, slipped less than 0.1 percent to C$54.03. Royal Bank of Canada ( TSE:RY), which has the heaviest weighting in the index, edged up 0.1 percent at C$80.16. German industrial production tumbled 4 percent in August, more than the 1.5 percent reduction forecast by economists and the biggest decline since 2009.įinancials, the S&P/TSX's most heavily weighted sector, inched up 0.1 percent. The International Monetary Fund trimmed its global economic growth forecasts for the third time this year, warning of weaker growth in core euro zone countries, Japan and big emerging markets such as Brazil. Five shares gained for every four stocks that lost, with six out of 10 major groups down. The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) fell 0.2 percent at 14,720.23 at 12:44 p.m. Canadian shares retreated as a sluggish global growth forecast and weak data from Germany stoked concerns about the state of the economic recovery.
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