CANADA STOCKS-TSX climbs as bank, energy shares advance

Wed Jan 22, 2014 10:58am EST

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* TSX rises 13.53 points, or 0.10 percent, to 13,965.30
    * Eight of 10 main index sectors advance
    * BlackBerry jumps after real estate divestment plans

    By John Tilak
    TORONTO, Jan 22 (Reuters) - Canada's main stock index rose
on Wednesday as gains in the financial and energy sectors helped
offset weakness in gold mining shares, and investors tracked a
move by the Bank of Canada to leave its main overnight rate
unchanged.
    The Bank of Canada said it was more concerned about weak
inflation than it was three months ago and explicitly stated
that the central bank's next move on interest rates could be
either down or up, depending on how economic data unfolds.
 
    Providing further support was BlackBerry, whose
shares jumped 7.2 percent to C$11.66, a day after the smartphone
maker said it planned to divest the majority of its Canadian
real estate holdings. 
    The Toronto market, which has gained in six of the last
seven trading sessions, is up about 2.6 percent this year. 
    "Clearly we're seeing a bit more confidence from domestic
investors," said Craig Fehr, Canadian market strategist at
investment firm Edward Jones in St. Louis, Missouri. "The equity
investment environment continues to be relatively favorable."
    "The markets are starting to gain more steam," he added.
"We're going to continue to see this back and forth between
consumer confidence and investor confidence."
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 13.53 points, or 0.10 percent, at 13,965.30.
    Eight of the 10 main sectors on the index were higher.
    Financials, the index's most heavily weighted sector, added
0.2 percent, with Royal Bank of Canada climbing 0.2
percent to C$73.16 and Bank of Montreal rising 0.3
percent to C$72.90.
    Energy shares climbed 0.3 percent, with oil prices providing
support. Suncor Energy Inc advanced 0.6 percent to
C$37.71.
    But gold mining shares gave back 1.1 percent. Barrick Gold
Corp declined 1.2 percent to C$20.83, and Goldcorp Inc
 slipped 0.3 percent to C$25.80.
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