CANADA STOCKS-TSX climbs as geopolitical concerns ease

Mon Aug 11, 2014 4:54pm EDT

* TSX up 65.33 points, or 0.43 percent, at 15,261.64
    * Nine of 10 main index sectors advance
    * TD has biggest positive influence on market

    By John Tilak
    TORONTO, Aug 11 (Reuters) - Canada's main stock index rose
on Monday as tensions appeared to cool in Ukraine and Gaza,
driving gains in most major sectors.
    An announcement by Russia late last week that it had ended
military exercises near the Ukraine border helped boost global
equity markets after a selloff. 
    Investors were also encouraged by news that Israeli and
Palestinian negotiators resumed indirect talks mediated by Egypt
on ending the month-old Gaza war. 
    Stocks have been under pressure in the past few weeks due to
several crises simmering around the world, including a volatile
situation in Iraq. Despite the recent choppy action, however,
the Toronto stock market's benchmark index is still up about 12
percent this year. 
    "We're getting back on track for a resumption of the rally,"
said Rick Hutcheon, president and chief operating officer at RKH
Investments.
    "There are signs that the correction that we've been having
over the last two or three weeks is coming to an end," he added.
"I think we're going to work our way higher for a while."
    Hutcheon is bullish on the prospects for the market's
natural resource sectors, especially the energy group.
    The Toronto Stock Exchange's S&P/TSX composite index
 closed up 65.33 points, or 0.43 percent, at 15,261.64.
Nine of the 10 main sectors on the index were higher.
    Financials, the index's most heavily weighted sector, rose
0.6 percent. Toronto-Dominion Bank gained 1.6 percent to
C$56.48 and had the biggest positive influence on the index.
Bank of Nova Scotia added 0.7 percent to C$72.05. 
    The industrial sector climbed 0.7 percent, with Canadian
National Railway Co rising 0.8 percent to C$73.20 and
Canadian Pacific Railway Ltd advancing 0.8 percent to
C$209.38.
    ($1=$1.09 Canadian)

 (Editing by Nick Zieminski; and Peter Galloway)
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