Miners Lead TSX Higher For Second Day -- Canadian Commentary

(RTTNews) - Canadian stocks edged higher for a second day in a row Tuesday, although volumes were light and confidence was subdued ahead of the Christmas break.

The S&P/TSX Composite Index rose 48.48 points, or 0.37 percent, to 13,082.86, powered by rebounding metals and mining stocks.

Financials and energy shares were flat, prevented a larger advance for the main index, which recent touched its lowest levels in two years.

Markets took it in stride when the Commerce Department reported a slight downward revision to U.S. third quarter economic growth.

The report said real gross domestic product increased by 2.0 percent in the third quarter compared to the previously estimated 2.1 percent growth.

In corporate news, Encana (ECA.TO) lost 5.3 percent. The sale of DJ Basin oil and gas assets in Colorado to a group led by the Canada Pension Plan Investment Board has been held up six months.

Nuvo Research (NRI.TO) slipped 2.7 percent. The company has reacquired Pliaglis development and marketing rights for the U.S., Canada and Mexico. The company also announced results from its WF10 Phase 2 trial for treatment of allergic rhinitis.