CANADA STOCKS-TSX climbs as China, Ukraine concerns abate

Tue Mar 25, 2014 10:55am EDT

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(Adds details, comments from analyst; updates prices)
    * TSX rises 44.89 points, or 0.31 percent, to 14,323.44
    * Nine of 10 main index sectors advance
    * Teck jumps more than 3 percent after copper prices gain

    By John Tilak
    TORONTO, March 25 (Reuters) - Canada's main stock index rose
on Tuesday on expectations that the Chinese government may
unveil some stimulus measures and that the crisis in Ukraine
will not worsen. 
    Hopes of a stimulus package from China boosted the price of
copper, which hit a two-week high, and sent shares of
diversified miner Teck Resources Ltd up more than 3
percent.
    Investors also watched as Russia indicated a willingness to
engage with the West after major industrialized countries warned
Moscow of tougher economic sanctions. 
    The Toronto market firmed after dropping in the previous two
sessions and has advanced about 5 percent this year.
    Despite the modest gain, there is no real indication of
confidence in the market, said Ian Nakamoto, director of
research at MacDougall, MacDougall & MacTier.
    "People are more fearful about the downside about global
growth than the upside," Nakamoto said.
    Nakamoto said he remains optimistic about the prospects for
the TSX this year, largely because he sees strength in sectors,
such as financials, that are less sensitive to the global
economy.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 44.89 points, or 0.31 percent, at 14,323.44.
Nine of the 10 main sectors on the index were higher.
    Financials, the index's most heavily weighted sector, were
up 0.2 percent, with Royal Bank of Canada advancing 0.4
percent to C$72.70.
    Bank of Montreal gained 0.3 percent, to C$73.70,
after shareholders in UK fund manager F&C Asset Management voted
in favor of a 708 million pounds ($1.17 billion) takeover bid by
BMO. 
    The materials sector, which includes mining stocks, rose 1.3
percent. The group benefited from the jump in the price of
copper, as well as gains in other commodities such as gold and
silver.
    Teck climbed to C$24.15, and Agrium Inc added 1.7
percent to C$106.53.

 (Editing by Grant McCool)
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