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Toronto keeps its edge, barely
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November 6, 1998: 12:18 p.m. ET
Gold melts after several winning sessions, but conglomerates keep market aloft
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NEW YORK (CNNfn) - Softer gold issues kept Toronto stocks from matching the strides made by the Dow Friday, but Canadian issues kept their cool enough to post a minor gain.
The Toronto Stock Exchange 300 Composite index rose 4.88 points, or 0.08 percent, to 6,417.90.
Of the exchange's 14 subindexes, the majority finished in positive territory. Conglomerates and the real estate and construction group were the leading sectors, with gains of 1.53 percent and 1.16 percent, respectively.
Among the losing sectors, the gold and precious metals group, with a 3.72 percent drop, suffered the worst blow, due largely to profit consolidation after a number of winning sessions for gold stocks.
Quebec supermarket chain Provigo, topped the day's volume leaders as it has done for several days running. It finished at C$15.40, higher by C$0.30, or 1.99 percent.
The day's big winner among volume leaders was Mitel Corp. stock, which rose C$0.95, or 9.27 percent, to C$11.20. Its shares have been battered for the past week, hitting a 52-week low on Wednesday, after the high technology equipment firm last week warned of a reduced profit outlook due to weaker semiconductor sales.
Teleglobe Inc. rose C$2.50, or 5.81 percent, to C$45.50, after the international telecommunications service reported a 30 percent increase in third-quarter earnings per share after the market closed on Thursday.
The least fortunate among the day's most active stocks was Barrick Gold, which shed C$1.25, or 3.57 percent, to C$33.80.
Elsewhere in Canada, shares in Montreal fell 16.95 points, or 0.51 percent, to 3,280.66.
Vancouver stocks climbed 2.09 points, or 0.51 percent, to 408.13. 
-- from staff and wire reports
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