A boost from the materials sector and big gains in its two most actively traded companies lifted the TSX today.
Shares in Aurora Cannabis gained 16 percent while RNC Minerals’ stock spiked 42 percent, helping to push Canada’s stock exchange 68 points higher.
Eight of the index’s 11 major sectors ended in positive territory, led by materials which gained 1.9 percent.
In New York, Trump’s tariff threats on China had a ripple effect on U.S.’s tech sector.
The proposed tariffs on $200 billion of Chinese products include internet technology products, prompting a sell-off of Apple and Amazon stocks which dropped 2.6 and 3.1 percent, respectively.
Shares of other high-profile American companies also tumbled, most noticeably in the tech sector. Declines in Twitter and Netflix dragged down the Nasdaq as the index finished 114 points in the red.
Potential American tariffs and the threat of China calling off trade talks also caused some jitters on the Dow, which tumbled 92 points.
Gold jumped $3.90 to $1,200 an ounce while oil slipped 24 cents to $68.75 US a barrel, despite supply concerns over America’s sanctions on Iran along with U.S./China trade tensions.
The loonie strengthened against the greenback, moving 5/100ths of a cent higher to $0.7671 cents US.
Meanwhile, a week after RNC Minerals unearthed 9,250 ounces of high-grade gold worth $15 million from its Beta Hunt Mine in Australia, the Canadian company did it again.
RNC Minerals has announced that it discovered a 43 kg specimen stone containing an estimated 1,100 ounces of gold from the same mine, sending the company’s stock skyrocketing.
