CANADA STOCKS-TSX clings to small gain despite Ukraine anxiety

Mon Mar 3, 2014 11:04am EST

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* TSX up 16.01 points, or 0.11 percent, at 14,225.60
    * Oil and gold shares rise with commodity prices

    By Leah Schnurr
    TORONTO, March 3 (Reuters) - Canada's main stock index
firmed slightly on Monday as resource shares piggybacked higher
on rising oil and gold prices in reaction to heightening tension
between Russia and Ukraine.
    Ukraine said Russia was gathering armored vehicles on its
side of a narrow stretch of water closest to Crimea after
Russian President Vladimir Putin declared over the weekend that
Russia had the right to invade his neighbor to protect Russian
interests and citizens. 
    Materials and energy sectors led the way higher on the
Toronto Stock Exchange. A search for safety in tense times
pushed gold prices higher, and crude was up nearly $2 a
barrel at $104.45 as investors worried over the impact the
Ukraine crisis would have on oil supplies. Russia is one of the
world's biggest oil producers. 
     "The only thing that's holding us in here is oil at
$104.50," said Paul Taylor, investment strategist for BMO Harris
Private Banking in Toronto.
    "It's definitely a risk-off day," he said.
    Among the day's gainers, Suncor Energy rose 1.2
percent to C$36.97, while Barrick Gold gained 2.3
percent to C$23.07.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 16.01 points, or 0.11 percent, at 14,225.60.
    Shares of Goldcorp jumped after Osisko Mining
 said it agreed to settle its lawsuit against Goldcorp
and would allow Goldcorp to conduct due diligence in connection
with its hostile takeover bid for Osisko. 
    Goldcorp gained 3.3 percent to C$30.76, while Osisko climbed
6.1 percent to C$7.48. 
    Magna International rose 2.1 percent to C$100.62
after the auto parts supplier reported a higher quarterly profit
and raised its dividend.
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