Canadian stock market closes higher on US budget worries

The Canadian stock market ended slightly higher Tuesday amid worries about the U.S. budget talks. The Toronto Stock Exchange's benchmark S&P/TSX Composite Index rose 39.35 points, or 0.31 percent, to finish the day's trading at 12,931.46. Gold stocks lifted the main index on the Toronto stock market as pessimism over reaching a debt deal in Washington in time sent gold prices higher. In gold, shares in Barrick gold Corporation, the world's largest bullion producer, jumped 3.65 percent to 18.46 Canadian dollars (about 17.79 U.S. dollars), while shares for its main competitor Goldcorp Inc. increased 2 percent to 24.97 Canadian dollars. The information technology sector was up 1.12 percent as the Canadian smartphone maker BlackBerry announced on Twitters and Facebook Monday afternoon that its"customers, partners and fans" could still count on the company's future performance. BlackBerry shares added 1.8 percent to 8.5 Canadian dollars apiece. The energy sector also went up slightly. Canadian Natural Resources gained 1.32 percent to 33.74 Canadian dollars a share. The industrials sector was down slightly as Canada's largest railway operator Canadian National Railways Company fell 42 Canadian cents to 109.07 Canadian dollars a share after an employees union warned of a potential strike or lockout on Oct. 28. The union represents about 3,300 conductors, trainmen and traffic co-ordinators in the company. At closing, the Canadian dollar closed down at 0.9637 U.S. dollars at 5 p.m. local time (2100 GMT), compared with 0.9660 U.S. dollars Friday. Canadian market was closed for Thanksgiving holiday Monday.