The Motley Fool

Suncor, Goldcorp Help Put the Canadian Market in the Green

Thanks, that’s right, thanks to the resource sectors (Materials and Energy), the Canadian market was able to outpace its U.S. peers in Thursday trading.  While the S&P 500 and Dow Jones Industrial were in the red by about 0.6% each, the S&P/TSX Composite climbed 0.4%.  Not great, but we’ll take it!

As indicated, resources, led by the likes of Suncor Energy (TSX:SU,NYSE:SU) and Goldcorp (TSX:G,NYSE:GG) pulled the Canadian market higher on the day.  These stocks were up 1.2% and 2.2% respectively.

Many other materials names made bigger percentage moves but because of their lower weighting in the index, didn’t carry as much influence.  The overall top performer on the day was gold company SEMAFO (TSX:SMF) which climbed 11.8%.

Two banks were most responsible for holding the market back.  TD Bank (TSX:TD,NYSE:TD) and Royal Bank (TSX:RY,NYSE:RY) were seemingly influenced by the weakness south of the border as the stocks were off by 1.0% and 0.6% respectively.

The Canadian market’s exposure to resources and financials was on display once again today.  Because of the heavy weighting that these sectors carry, investors that rely on Canadian Index funds or ETFs severely lack diversification in their portfolio, opening them to undue risks.  Click here now to receive “Buy These 5 Companies Instead of Following a Flawed Piece of Advice”, our special report that outlines an easy to implement strategy and 5 Canadian stocks that reduce the risks involved with passively investing in the Canadian market.  Simply click here now to receive this report – FREE!

Follow us on Twitter and Facebook for the latest in Foolish investing.

Fool contributor Iain Butler is short $32 July 2013 put options on Goldcorp.  The Motley Fool has no positions in the stocks mentioned above.

Just Released! 5 Stocks Under $49 (FREE REPORT)

Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $49 a share.
Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune.
Don't miss out! Simply click the link below to grab your free copy and discover all 5 of these stocks now.

Claim your FREE 5-stock report now!

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.