TSX Climbs as Miners Gain

Canada's main stock ?index rose on Friday, helped by gains in mining stocks after weaker-than-expected U.S. jobs data lifted gold prices and reduced expectations of a near-term Federal Reserve interest rate hike.

The TSX Composite Index vaulted 315.74 points to break for lunch Friday at 35,282.41. On the week so far, the index has leaped 302 points, or 0.87%.

The Canadian dollar eked down 0.06 cents to 70.41 cents U.S.

Among individual stocks, Australian miner BHP Group has agreed to transfer its San Manuel property in Arizona to Faraday Copper in exchange for a 30% stake in the Canadian miner, as Faraday seeks to develop a copper hub around its adjacent Copper Creek project.

Faraday gained six cents, or 1%, to $6.29.

Elsewhere, AtkinsRealis anticipates that Turkey will complete an early review of its CANDU reactors following an information exchange later this summer, which may lead to concrete talks for a nuclear plant bid, a top company official said. Atkins shares leaped $3.53, or 4%, to $91.18.

Among miners, Southern Cross Gold hiked 91 cents, or 10.1%, to $9.91, Wesdome Gold Mines ?spiked $1.80, or 6.9%, to $27.94, and Americas Gold and Silver Corp popped 39 cents, or 5.6%, to $7.32.

ON BAYSTREET

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The TSX Venture Exchange was up 22.15 points, or 2.4%, to 936.53, for a gain on the week so far of 40.6 points, or 4.5%.

Oil prices poked ahead six cents to 68.75 cents U.S. a barrel.

Gold prices jumped $53.50 to $4,179.20 U.S an ounce.

All 12 TSX subgroups were positive, led by materials, up 2.3%, gold, growing 1.7%, and telecoms, ahead 1.2%.

ON WALLSTREET

Equities in the United States were closed due to the 4th of July holiday.

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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