Canada’s benchmark stock index ended barely higher on Friday, with sharp gains for gold miners offset by a slump in Toronto-Dominion Bank (TD) after CBC News reported that its employees were being pressured to meet high sales revenue goals.
Shares in TD, Canada’s No. 2 lender, closed down 5.6 percent at C$66.00, its biggest one-day decline since early 2009.
In an emailed response to Reuters regarding the CBC story, TD said, “The environment described in the media report is very much at odds with how we run our business, and we don’t recognize it from our own perspective, experience or assessments.”
The financials group fell 1.1 percent, despite solid domestic jobs data broadly boosted bond yields.
Several major gold miners were among the most influential gainers as bullion recovered from a five-week low.
The materials group, which includes precious and base metals miners and fertilizer companies, added 2.1 percent, with Barrick Gold Corp rising 2.6 percent to C$24.51.
“I don’t see a fundamental reason to be excited about the miners, or about gold itself, because anything that depends on a weaker U.S. dollar just doesn’t make sense to me with Donald Trump in the White House,” said Allan Small, senior investment advisor at HollisWealth.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 9.84 points, or 0.06 percent, at 15,506.68. It lost 0.7 percent on the week.
Of the index’s 10 main groups, just financials and energy ended in negative territory, with advancers outnumbering decliners by more than 3 to 1.
The energy group slipped 0.1 percent, as oil prices slumped to close out the biggest three-day loss in a year.
Element Fleet Management Corp declined 7.6 percent to C$13.06 as several banks downgraded or trimmed their price targets on the company after it reported quarterly earnings.
Kinross Gold Corporation (KGC) ended last trading session with a change of 3.14 percent. It trades at an average volume of 13.42M shares versus 10.43M shares recorded at the end of last trading session. The share price of $3.28 is at a distance of 17.56 percent from its 52-week low and down -43.64 percent versus its peak. The company has a market cap of $4.08B and currently has 1.25B shares outstanding. The share price is currently -10.49 percent versus its SMA20, -9.11 percent versus its SMA50, and -20.84 percent versus its SMA200. The stock has a weekly performance of -2.67 percent and is 5.47 percent year-to-date as of the recent close.
B2Gold Corp. (BTG) recently recorded 7.55 percent change and currently at $2.99 is 131.78 percent away from its 52-week low and down -18.06 percent versus its peak. It has a past 5-day performance of -0.33 percent and trades at an average volume of 5.65M shares. The stock has a 1-month performance of -12.83 percent and is 26.16 percent year-to-date as of the recent close. There were about 955.74M shares outstanding which made its market cap $2.86B. The share price is currently -5.65 percent versus its SMA20, 0.64 percent versus its SMA50, and 10.13 percent versus its SMA200.