CANADA STOCKS-TSX steady as Ukraine fears offset Tim Hortons gain

Wed Aug 6, 2014 10:46am EDT

* TSX down 9.65 points, or 0.06 percent, at 15,178.06
    * Eight of 10 main index sectors decline
    * Tim Hortons jumps 6 percent after results

    By John Tilak
    TORONTO, Aug 6 (Reuters) - Canada's main stock index was
little changed in choppy trading on Wednesday as worries that
the Ukraine crisis will escalate offset gains in gold producers
and in shares of Tim Hortons Inc after the company
released quarterly results.
    NATO said Russia has amassed about 20,000 combat-ready
troops on Ukraine's eastern border and could use the pretext of
a humanitarian or peacekeeping mission to invade.
 
    Further dampening the market's mood, figures showed Italy
slipped back into recession for the third time since 2008 in the
second quarter. 
    The Toronto stock market's benchmark index has been trading
in negative territory for the last four sessions.
    "These geopolitical events are just excuses to send the
market down," said John Stephenson, president of Stephenson & Co
Capital Management.
    "What is underlying all of this is a concern over how far
the markets have come," he added. "Everything else is secondary
to that."
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 9.65 points, or 0.06 percent, at 15,178.06.
Eight of the 10 main sectors on the index were in the red.
    Financials, the index's most heavily weighted sector,
dropped 0.2 percent, with Bank of Nova Scotia falling
0.4 percent to C$73.01, and Bank of Montreal losing 0.3
percent to C$79.87.
    Gold miners jumped 1.5 percent, mirroring a similar gain in
the price of bullion. Goldcorp Inc advanced 1.3 percent
to C$30.75, and Barrick Gold Corp climbed 1.1 percent
to C$19.99.
    Shares of Tim Hortons jumped 6 percent to C$63.66 after the
coffee and snacks chain posted a bigger-than-expected rise in
quarterly profit and said full-year earnings may top its
forecast. 
     Canaccord Genuity Group Inc's stock shed 7.8
percent after the company reported quarterly results late on
Tuesday.
    ($1=$1.09 Canadian)

 (Editing by Peter Galloway)
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