debt negotiations boosts bullion, gold miners * Lower commodity prices weigh on resource-rich Canada index By Alastair Sharp TORONTO, Oct 15 (Reuters) – Canada’s main stock index gained on Tuesday, as shares of gold miners jumped after U.S. negotiations to avert a damaging debt default stalled. Bullion had hit a three-month low earlier in the day as investors bet that a deal could be reached. But as negotiations sputtered ahead of a Thursday deadline, a safe-haven rally for gold in turn boosted Canada-listed gold miners. “Many of the leading (gold mining) stocks have been beaten down beyond belief, are trading at very attractive valuations and they offer good dividend yields,” said Elvis Picardo, a strategist at Global Securities in Vancouver. The gold mining sub-index, which has declined sharply in recent months, gained more than 3 percent. Other commodities, including oil, were lower, while the three main U.S. indices also retreated in the face of the political uncertainty. The resource-heavy Toronto Stock Exchange’s S&P/TSX composite index ended up 39.35 points, or 0.31 percent, at 12,931.46. Picardo said the index should be well-placed to gain in the medium-term, assuming a deal is reached that avoids a U.S. default. “Investors are just waiting for this one big uncertainty to be resolved before they jump in with both feet,” he said, pointing to energy and mining stocks as likely winners. Hopes for a deal had risen after U.S.
Canada monitors CN Rail labor dispute ahead of Oct. 21 talks
(Photo: Ryan Remiorz, AP) Air Canada SHARE 124 CONNECT 62 TWEET 1 COMMENTEMAILMORE MONTREAL Air Canada is in the doghouse over a spokesman’s remarks following the disappearance of a dog who escaped airline staff at a California airport. The company says handlers at San Francisco International Airport took the dog out of his crate on Monday after his flight was delayed and the pet either slipped out of his collar or broke it. Air Canada says the dog, an Italian greyhound named Larry, bolted and was last spotted about 5 miles from the airport. TODAY IN THE SKY: Your bookmark for the day’s most interesting airline stories The local CBS TV station took interest in Larry’s disappearance and says it asked the airline about its procedures after obtaining a statement about the incident. Instead, the station says it accidentally received an email from spokesman Peter Fitzpatrick urging his colleagues to ignore the inquiry and what sounded like a jab at the U.S. government shutdown. “I think I would just ignore, it is local news doing a story on a lost dog. Their entire government is shut down and about to default and this is how the US media spends its time,” the station said the e-mail read. Word quickly spread online, with many voicing their outrage over the company’s response. “If you ever fly with your pet, you might not want to choose Air Canada,” one wrote on Twitter. The airline addressed the controversy in a statement Friday. “Air Canada acknowledges inappropriate comments were made in response to a reporter’s follow-up questions for additional details regarding Larry,” it said.
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