TSX Flat For Second Day -- Canadian Commentary

(RTTNews) - Canadian stocks inched hgher Wednesday, eking out modest gains for a second straight session.

The TSX Composite Index was up 10 points to 16,108.

Gold prices were flat Wednesday as U.S. stocks recovered early losses.

June gold settled at $1,291.50/oz, up $1.20, or less than 0.1%.

Gold fell sharply earlier in the week, tumbling to a 5-month low amid speculation the Federal Reserve will raise interest rates in June.

Crude oil futures nudged higher amid a large decrease in U.S. oil stockpiles.

June WTI oil inch up by 18 cents, or nearly 0.3%, to settle at $71.49/bbl

Crude inventories fell by 1.4 million barrels in the week to May 11, compared with expectations for a decrease of 750,000 barrels.

In corporate news, shareholders have approved Hydro One's (H.TO) executive pay plan.

Air Canada is facing boycotts from Taiwanese customers after refering to the island as part of China.

Home Capital Group's (HCG.TO) Home Trust division has lined up a new credit line to replace that of Berkshire Hathaway.

Marijuana major Canopy Growth Corp. (WEED.TO) has applied to have its stock listed on the New York Stock Exchange.

Conifex Timber (CFF.TO) will buy large sawmills in Florida and Arkansas.

Canadian Solar Inc. (CSIQ) reported earnings of $43.38 million in Q1 vs. -$13.33 million in the same period last year.