By Reuters Staff
(Adds details, updates prices throughout)
June 10 (Reuters) - Canada’s main stock index rose on Thursday after energy stocks gained on the back of higher oil prices, a day after the central bank left its key interest rate unchanged. Oil prices rose about 0.8% after slipping in the previous session on data indicating weak U.S. driving season fuel demand as investors eyed upcoming U.S. economic data. That helped the energy sector rise 0.8%. At 9:47 a.m. ET (1347 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 40.42 points, or 0.2%, at 20,042.69. The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.4%.
Some of the world s largest copper miners have not managed to make the most of the recent rally in copper prices because of operational challenges at major mining projects
Workers at BHP Group's Spence copper mine in Chile said on Wednesday they will extend negotiations with the company for a few more days to try and reach agreement on a new contract and avoid a strike at the operation, the union told Reuters.
By Reuters Staff
(Updates with copper price prediction, quote from statement, context)
SANTIAGO, June 9 (Reuters) - Chile’s economy will grow faster than previously predicted this year, the central bank said in its Ipom quarterly economic report, buoyed by the injection of a fresh round of stimulus and the passage of a third withdrawal from private pension funds.
The bank said gross domestic product would increase by 8.5% to 9.5% in 2021, up from its previous prediction in March of 6% to 7%.
“The higher growth in 2021 will more quickly close the gap in activity generated the Covid-19 crisis, making monetary stimulus less necessary to support the recovery of the economy,” the bank said in the report.