Resource Stocks Help TSX Slightly Higher -- Canadian Commentary

(RTTNews) - Canadian stocks rose for a second session in a row Thursday, led my commodities producers amid slightly higher oil and gold prices.

The S&P/TSX Composite Index was up 24.74 points to 14,643.71.

Bay Street remained somewhat cautious due to the uncertain interest rate outlook in the U.S.

Crude oil futures held just above $50 a barrel, even as the Energy Information Administration reported that U.S. crude oil inventories had jumped by 4.9 million barrels in the week to October 7.

Nov. WTI oil settled at $50.44/bbl on Nymex, up 26 cents, or 0.5%.

In corporate news, Premium Brands Holdings(PBH.TO) bought Belmont Meat Products for $50 million. PBH shares were up 5 percent.

Loblaw (L.TO), as Shoppers Drug Mart, has completed its acquisition of QHR for $3.10 in cash per share. Loblaw was down fractionally.

First Majestic (FR.TO) said silver production rose 27% from a year ago. Shares were up 1.2 percent.

Denison Mines Corp. (DML.TO, DNN) announced it has executed a definitive agreement with ALX Uranium Corp. (AL.V) to acquire 80% ownership of the Hook-Carter property in exchange for stock.