CANADA STOCKS-TSX steady as Ukraine weighs, energy shares rally

Fri Aug 15, 2014 4:51pm EDT

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* TSX up 13.06 points, or 0.09 percent, at 15,304.24
    * Six of 10 main index sectors decline
    * Imperial Metals jumps after financing plans

    By John Tilak
    TORONTO, Aug 15 (Reuters) - Canada's main stock index was
little changed on Friday as signs of an escalation of conflict
in Ukraine weighed on sentiment, but a jump in the oil price
helped drive up shares of energy producers.
    Oil prices rallied on uncertainty surrounding the Ukraine
crisis as Russia is a major producer of oil and natural gas.
    Ukraine said its artillery destroyed part of a Russian
armoured column that entered its territory overnight and said
its forces came under shellfire from Russia. 
    Investors also digested news of a revised Canadian jobs
report for July, which turned out to be better than initially
thought. 
    The Toronto market has been volatile in the past two weeks
because of the flaring of tensions in Ukraine, Iraq and Israel. 
    "The geopolitical events are definitely impacting market
psyche," said Shailesh Kshatriya, associate director for client
investment strategies at Russell Investments Canada.
    He does not expect much movement on the TSX between now and
the end of the year. 
    "I'm feeling more confident about the pace of the U.S.
recovery in the second half of this year than with the Canadian
recovery," he said.
    The Toronto Stock Exchange's S&P/TSX composite index
 closed up 13.06 points, or 0.09 percent, at 15,304.24.
Six of the 10 main sectors on the index were in the red.
    Financials, the index's most heavily weighted sector, gave
back 0.4 percent, with Toronto Dominion Bank losing 0.4
percent to C$56.65 and Royal Bank of Canada  falling 0.4
percent to C$79.85. 
    Shares of energy producers climbed 1 percent. Suncor Energy
Inc added 2.4 percent to C$42.95, and Canadian Natural
Resources Ltd advanced 1.7 percent to C$45.46.
    In corporate news, Imperial Metals Corp, the
company behind last week's spill of mine waste in Western
Canada, took steps to raise C$100 million ($92 million) in debt
to cover cleanup costs and finish building its newest mine. The
stock jumped 15.8 percent to C$10.11.  

 (Editing by Chris Reese; Editing by Chizu Nomiyama)
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