Bloomberg News

Canada Stocks Little Changed as Utilities Gain, Materials Slip

June 14, 2013

Canadian stocks were little changed, following the biggest gain in seven weeks, as a rise in utility shares offset a decline among raw-materials producers.

Just Energy Group Inc. added 2.4 percent. Niko Resources Ltd. fell 2.3 percent. OceanaGold Corp. and Novagold Resources Inc. rose at least 1.7 percent as the price of the precious metal added 0.8 percent.

The Standard & Poor’s/TSX Composite Index (SPTSX) rose 4.12 points, or less than 0.1 percent, to 12,281.25 at 10:12 a.m. in Toronto.

Data today showed factory sales fell at the fastest pace in more than three years in April a widespread drop led by slower oil-refinery production and metal output.

The Bank of Canada predicts the economic expansion will rotate to exports and investment from consumer and government spending even amid what it calls the slowest export recovery since World War II.

To contact the reporter on this story: Katie Brennan in New York at kbrennan23@bloomberg.net

To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net


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