(Updates with morning prices)
By Twesha Dikshit and Sukriti Gupta
June 27 (Reuters) - Canada's main stock index inched up
to an all-time high on Friday, but losses in heavyweight mining
shares kept gains in check, while investors assessed domestic
and U.S. economic data.
The S&P/TSX composite index was up 0.1% at
26,790.18 points, surpassing Tuesday's record intraday high of
26,780.19.
Healthcare stocks led the sectoral gains with
a 1.7% rise. Bausch Health Companies ( BHC ), the parent
company of contact lens maker Bausch + Lomb, rose 3.1%.
On the flip side, mining shares dropped 2.8%,
tracking gold that fell to a near one-month low. Gold miners
were among the top losers with Lundin Gold ( LUGDF ) falling 7%
to the bottom of the main index. Kinross Gold ( KGCRF ) lost 5.7%.
Economic data on Friday showed Canada's economy
contracted in April on a monthly basis as sectors exposed to
tariffs negated a boost from services.
The GDP figures are "being driven by weaker exports to
the US ... I don't think that's being reflected in the market
though," said Philip Petursson, chief investment strategist at
IG Wealth Management.
"It raises the potential for further interest rate
cuts."
In the U.S., consumer spending unexpectedly fell in May,
while monthly inflation increases remained moderate.
Among individual stocks, TC Energy ( TRP ) rose 3.3%
after the pipeline operator started collecting tolls for the
Southeast Gateway natural gas pipeline in Mexico.
Miner Wesdome Gold finished its acquisition of
Angus Gold ( ANGVF ). Shares of Wesdome Gold were down 2.9%.