CANADA STOCKS-TSX strengthens after Crimea vote, U.S. data

Mon Mar 17, 2014 11:04am EDT

* TSX rises 63.66 points, or 0.45 percent, to 14,291.32
    * All of 10 main index sectors advance
    * Bombardier jumps after contract win

    By John Tilak
    TORONTO, March 17 (Reuters) - Canada's main stock index
advanced on Monday, helped by gains in every major sector, after
a referendum in Crimea concluded peacefully over the weekend and
positive U.S. economic data boosted sentiment.
    Investors digested news that the United States and European
Union will impose sanctions including asset freezes and travel
bans on officials from Russia and Ukraine after Crimea applied
to join Russia following the referendum. 
    Separately released data showed the largest gain in U.S.
manufacturing output in six months in February and an expansion
in factory activity in New York state in March. 
    Also providing support was a 4.6 percent jump in shares of
Bombardier, after South Africa's Transnet awarded the
plane and train maker a contract, which it shared with General
Electric and two Chinese firms, to supply over 1,000
trains, as part of a $28 billion expansion plan. 
    While the Toronto market firmed after a decline in the
previous week and is up about 5 percent this year, investors
remained cautious. 
    "Today is more of a relief rally than anything else," said
John Ing, president of Maison Placements Canada. 
    "This is going to be a chronic worry. There is no resolution
in sight," he said about the situation in Ukraine. "The market
volatility will continue."
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 63.66 points, or 0.45 percent, at 14,291.32.
All of the 10 main sectors on the index were higher.
    Financials, the index's most heavily weighted sector, added
0.5 percent, with Toronto Dominion Bank climbing 0.7
percent to C$51.59.
    The surge in Bombardier and gains in some rail operators
helped lift the industrials group, which was up 1.2 percent.
Canadian National Railway Co rose 1.3 percent to
C$62.79.
    But gold-mining shares, which are part of the broader
materials sector, gave up some of their recent gains, slipping
0.8 percent. Goldcorp Inc lost 0.9 percent to C$31.56,
and Barrick Gold Corp slipped 0.6 percent to C$23.06.
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