Gold stocks helped lift the TSX to a higher close on Tuesday. The S&P/TSX composite index gained 20.81 points to finish at 8,660.70.
Gold prices were given a boost by a report that the deadly poison ricin had been found in a U.S. Senate office building, rekindling memories of the anthrax threat in 2001 and sending investors into the safe haven of bullion.
Kinross Gold rose 13¢ to $9.37, while Meridian Gold ended with a gain of 53¢ at $17.56.
Health care stocks rose 2% to lead all sectors, while energy issues gained 1.5%.
In earnings news, Inco earned US$74 million in the latest quarter, compared with a net loss of US$2 million a year ago. It also said it will cut costs by US$63 million this year. Inco shares fell $1.40 to close at $47.80.
Fording Canadian Coal Trust units were higher by 75¢ at $45.70 after the trust reported a $243 million annual profit.
Cara shares jumped 36¢ to $7.31 after two key minority stockholders blocked a bid by members of its founding family to take the company private at $7.625 per share.
Profits at Cara for the third quarter rose to $7.9 million from $7.4 million as revenues increased 4.9% to $276 million.
The TSX Venture Exchange was up 7.93 at 1,788.19.
In New York, the Dow Jones industrial average edged up six points to 10,505.18.
The Nasdaq composite index was ahead 3.06 points at 2,066.21. The S&P 500 added 0.76 point 1.13 to 1,134.13.
The fears of terror attacks in the United States also led to a drop in the greenback. The Canadian dollar finished the day up 0.01¢ at US74.77¢.
Golds buoy Toronto stocks
Terrorism fears leave investors looking for safe haven
- By: IE Staff
- February 3, 2004 February 3, 2004
- 17:15