Canadian Market Defies Falling Crude Oil Prices -- Canadian Commentary

(RTTNews) - Canadian stocks nudged higher Tuesday, as Bay Street continued to withstand falling crude oil prices.

Metals producers performed well today as a weaker dollar led to higher metals prices.

Energy stocks trimmed big losses from the previous session, even as crude oil futures settled below $43 for the first time since April.

The S&P/TSX Composite Index was up 51.90 points, or 0.36 percent, at 14,550. With the advance, the index was back near recent 11-month highs.

Barrick Gold Corp (ABX.TO) is considering the sale of its majority stake in African unit Acacia Mining Plc, according to reports. Shares rose 3 percent.

Westjet (WJA.TO) said its second quarter profit was down 40 percent from last year as operating margins fell. Still, the result was better than forecast. WestJet also added numerous new routes. Shares were down fractionally.

Husky Energy (HSE.TO) shut down one its pipelines indefinitely after a Saskatchewan oil spill. Shares were flat.