CANADA STOCKS-TSX pushes higher as miners boosted by China hopes
* TSX up 11.37 points, or 0.09 percent, at 12,279.38 * Energy companies, banks keep index positive * Nordion plummets 40 pct after losing arbitration case By Alastair Sharp TORONTO, Sept 10 (Reuters) - Canada's main stock index pushed higher on Monday as the mining sector - excluding gold- rose on hopes China's infrastructure drive will boost demand for commodities needed to make steel and other construction materials. Canadian stocks added to sharp gains from late last week as energy companies and banks showed renewed strength. Talisman Energy jumped 3.1 percent to C$14.30 after the independent oil explorer said its CEO had stepped down, which investors took as a sign the company could be looking for a buyer. The overall rise went against the tide of global markets, which were largely subdued ahead of a German ruling on the euro zone's new bailout fund, Dutch elections and potential new stimulus from the U.S. Federal Reserve. Diversified miner Teck Resources Ltd and base metal producer Inmet Mining Corp moved higher after sharp rallies on Friday. "Those are massive rallies on the fact that this time China is actually going to do a stimulus that will stick and require commodities," said Barry Schwartz, a portfolio manager at Baskin Financial Services. Weak Chinese trade data on Monday underlined the likelihood of more Beijing-backed spending to deal with the damage done to the world's second largest economy by firms cutting production, inventories and imports in the face of anemic global demand. Beijing has given the green light to infrastructure projects worth more than $150 billion to resuscitate its steel industry and pull China's economy out of a slowdown. At 10:50 a.m. (1450 GMT) the Toronto Stock Exchange's S&P/TSX composite index was up 11.37 points, or 0.09 percent, at 12,279.38. The rise pushed the index slightly higher than the four-month high hit on Friday. Shares of Nordion Inc plummeted more than 40 percent after the provider of medical isotopes suspended its quarterly dividend after an arbitration panel rejected its claim for damages from its main supplier. "It's an upsetting situation and hopefully they can recover from that," Schwartz said. Most of the other leading decliners on the index were gold miners, which had performed well in the past month. The price of bullion is near a six-month high.
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