RTTNews - Canadian stocks remained moderately higher on Wednesday and are headed toward the first positive finish of the week. Strength in the gold sector has led the way, offsetting another drop for financials.
The S&P/TSX Composite Index has gained 32.91 points or 0.30% to move 10,722.69.
Gold stocks have soared 8.3% and materials stocks added 5.3% as the precious metal gained $22 to finish at $978.50 per ounce. Agnico-Eagles (AEM.TO) has surged 9.3%, Iamgold (IMG.TO) has rallied 9.2%, Eldorado (ELD.TO) has jumped 8.6% and Goldcorp (G.TO) has added 7.8%.
Healthcare stocks have rallied 5.4%. MDS Inc. (MDS.TO) has soared 30% after the company announced it will sell its MDS Analytical Technologies business to Danaher Corp. (DHR) for $650 million in cash.
Financials have lost 1.3% with all of the big six banks sitting in the red. National Bank (NA.TO) has dropped 1.9%, Toronto Dominion (TD.TO) is down 1.8% and CIBC (CM.TO) has lost 1.7%.
Bombardier (BBD-B.TO) has jumped 9.7% after the aerospace and rail transportation solutions provider posted second-quarter net income attributable to shareholders of US$198 million or US$0.11 per share, compared to US$251 million or US$0.14 per share in the year-ago quarter.
Superior Plus Corp. (SPB.TO) has fallen 4% after the company said it has agreed to acquire certain assets from Sunoco for an aggregate purchase price of about US$82.5 million in cash plus working capital.
Arbor Memorial Services (ABO-A.TO) has added 8.7% after the company reported net earnings for the third quarter of C$5.6 million or C$0.52 per share, higher than C$5.3 million or C$0.49 per share in the earlier year quarter.
In the U.S., Automatic Data Processing reported non-farm private employment fell by 298,000 jobs in August following a revised decrease of 360,000 jobs in July.
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