CANADA STOCKS-TSX gains as miners bounce, global data points to recovery
* TSX gains 126.53 points, or 1.01 percent * Most of the 10 main index sectors rise, led by miners * Barrick Gold jumps 4 percent after agreeing to sell Australian assets By Alastair Sharp TORONTO, Aug 22 (Reuters) - Canada's main stock index rallied 1 percent on Thursday as positive data readings from the United States, Europe and China helped miners lead most major sectors into positive territory. Shares in Barrick Gold Corp, the world's largest gold producer, climbed 4 percent to C$20.76 after it agreed to sell three of its higher-cost gold mines in Australia for $300 million. Barrick's boost was the single biggest mover behind the rally for the Toronto Stock Exchange's S&P/TSX composite index . Shares of rival Goldcorp Inc added 3 percent to C$32.50. Spot gold gained 1 percent. Business surveys pointed to an improving world economy, with U.S. and Chinese manufacturing activity at multi-month highs and better-than-expected growth in the euro zone. "The data came at the right time, after a number of down days," said John Kinsey, portfolio manager at Caldwell Securities, who also said light volumes exacerbated the rise. The index on Wednesday hit its lowest level since Aug. 12. The global data also helped steady oil prices, and the index's energy sector notched a 1 percent gain led by Suncor Energy Inc, up 1.2 percent at C$35.27, and Cenovus Energy Inc, up 2 percent at C$30.07. On the other side of the ledger, Canada's telecom and cable companies were among the heaviest weights, with BCE Inc down 0.3 percent at C$42.23, Shaw Communications Inc down 0.8 percent at C$25.17 and Quebecor Inc slipping 1.5 percent to C$22.15. At 10:45 a.m. (1445 GMT) the S&P/TSX was up 126.53 points, or 1.01 percent.
- Man called Bitcoin's father denies ties, leads LA car chase
- Malaysia Airlines loses contact with plane carrying 239 people
- Ukraine standoff intensifies, Russia says sanctions will 'boomerang' |
- Florida mayor fights backyard gun ranges in 'Gunshine State'
- Apple loses bid for U.S. ban on Samsung smartphone sales