Canadian stocks rise

Toronto, Nov 25 (IANS) Canada’s main stock market in Toronto rose slightly as oil prices jumped after Turkey shot down a Russian warplane in Syria on Tuesday.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index was up 25.45 points, or 0.19 percent, to close at 13,407.83 points, Xinhua reported.

Six of the eight major sectors in TSX lost ground with utilities leading the decline by 2.43 percent.

The index, however, stayed in the positive territory on the closing bell as the resources shares rallied over the rising oil prices after Turkey shot down a Russian fighter jet, intensifying the geopolitical worries in the Middle-East.

Energy gained 1.93 percent when the oil and gas giant Encana soared 6.47 percent to 11.36 Canadian dollars (about $8.54) while Baytex Energy Corp. spiked 11.74 percent to 5.90 Canadian dollars per share.

Metals and mining, another heavily-weighed resources sector in TSX, logged the biggest gain by 2.49 percent as the leading companies First Quantum Minerals Ltd. rallied 7.71 percent to 4.89 Canadian dollars and Yamana Gold Inc. Rose sharply 11.79 percent to 2.75 Canadian dollars.

However, with no significant domestic economic data released, investors of the Canadian equities market focused on the outlook of the US economy.

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