Canada Stocks: TSX hits another record high as energy shares jump
CANADA STOCKS-TSX hits another record high as energy shares jump Updates at market close
By Sudeshna Ghoshal and Fergal Smith
Aug 10 (Reuters) - Canada's main stock index rose to another record high on Monday as energy stocks jumped, but the move was limited as Barrick Mining ABX.TO missed quarterly profit estimates and ahead of key U.S. inflation data this week.
The S&P/TSX Composite Index .GSPTSE ended up 77.10 points, or 0.2%, at 36,458.33, eclipsing Friday's record closing high.
"A lot of what is going to determine the direction for stocks this week is going to be the U.S. inflation data," said Angelo Kourkafas, senior global investment strategist at Edward Jones Investments.
U.S. Consumer Price Index data for July is due on Wednesday which could offer clues on the Federal Reserve's monetary policy path.
Energy .SPTTEN gained 3.7% as the price of oil CLc1 settled 5.05% higher at $82.13 a barrel after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the Strait of Hormuz.
Technology .SPTTTK was another standout, adding 1.1%.
Barrick Mining ABX.TO reported second-quarter profit below estimates as higher costs at its gold operations offset rising bullion prices, and struck a $1.95 billion deal with Newmont to settle disputes over Nevada Gold Mines.
Shares of Barrick were down 6.4%, while the materials group .GSPTTMT, which includes metal mining shares, ended nearly unchanged.
The price of gold XAU= rose 1.1% as bullish momentum and fear of missing out propelled prices forward.
Industrials .GSPTTIN lost 0.9%, while the utilities sector .GSPTTUT, which includes many high-dividend paying stocks, ended 1.6% lower as bond yields climbed.
The Canadian 10-year yield CA10YT=RR rose 7.5 basis points to 3.718%, its highest level since May 19.
(Reporting by Fergal Smith and Sudeshna Ghoshal in Bengaluru; Editing by Sahal Muhammed and Daniel Wallis)
((fergal.smith@thomsonreuters.com; +1 647 480 7446))