BNN's closing bell update: November 21, 2017
Canada's main stock index posted a 12-day high on Tuesday, with broad-based gains led by materials companies as copper prices climbed, while TransCanada Corp added to gains after winning a key approval for its Keystone XL pipeline on Monday.
The Toronto Stock Exchange's S&P/TSX composite index closed up 72.25 points, or 0.45 per cent, at 16,076.65, its highest close since Nov. 9.
One of the largest percentage gainers was First Quantum Minerals Ltd (FM.TO), which rose 3.5 per cent to $15.31 as copper prices pushed higher.
Copper prices advanced 1.4 per cent to US$6,920 a tonne.
The materials group, which includes precious and base metals miners and fertilizer companies, added 0.9 per cent.
Industrial shares rose 0.5 per cent as railroad stocks gained ground, while the consumer discretionary group advanced 0.8 per cent.
Shares of TransCanada Corp (TRP.TO) rose 1.2 per cent to $64.25.
The overall energy group was little changed even as oil prices climbed.
U.S. crude prices settled 0.7 per cent higher at US$56.83 a barrel as traders looked ahead to a meeting next week at which major crude exporters are expected to extend production cuts.
Shares of Concordia International Corp (CXR.TO) fell 3.3 per cent to $0.58. The drug company overcharged Britain's health service millions of pounds for an essential thyroid drug by abusing its position as the only supplier, the country's Competition and Markets Authority said.