CANADA STOCKS-TSX lifted by energy stocks, TransCanada; golds drag

Thu Jan 17, 2013 11:42am EST

* TSX rises 44.08 points, or 0.35 percent, to 12,652.90
    * All 10 main sectors climb
    * H&R Real Estate slips 2.3 percent on deal to acquire
Primaris

    By John Tilak
    TORONTO, Jan 17 (Reuters) - Canada's main stock index rose
on Thursday, led by gains in energy stocks, which were boosted
by a rise is oil prices on supply concerns as well as
encouraging economic data from the United States.
    Upbeat U.S. housing and labor data, combined with strong
earnings reports from some U.S. companies helped send North
American stock markets higher, even as concerns lingered about
negotiations on raising the U.S. government's borrowing limit.
 
    "As we get closer to the discussions in the United States on
the lifting of the debt ceiling, that would be the dominant
theme as far as the markets are concerned," said John Ing,
president of Maison Placements Canada.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 44.08 points, or 0.35 percent, at 12,652.90.
All 10 of the main sectors of the index were trading higher.
    Energy shares were up 0.4 percent, and the financial sector,
the index's weightiest, added 0.2 percent.
    Oil prices rose as a hostage crisis at an Algerian gas field
fueled concern over security of supply from the region. 
    Shares of TransCanada Corp were also 1.2 percent
higher a day after it said construction of its $2.3 billion Gulf
Coast Project was going smoothly and the pipeline is expected to
open on schedule by year end. 
    Gold stocks were one of the few weak areas on the market.
Barrick Gold Corp fell 0.3 percent to C$33.59 as gold
prices weakened. 
    In acquisition news, units of H&R Real Estate Investment
Trust slipped 2.3 percent to C$23.25 after it
announced a deal to acquire Canadian shopping mall-focused
Primaris Retail REIT. Primaris units rose 0.79 percent to
C$26.72.
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