* TSX up 15.78 points, or 0.12 percent, at 12,707.45
* Expected Yellen nomination for Fed chair provides some
* Gold miners suffer as price of bullion falls
By Alastair Sharp
TORONTO, Oct 9 Canada's main stock index was
slightly higher on Wednesday, with broad gains notched by
banking, energy and telecom stocks offsetting a decline in gold
mining stocks as investors took some comfort from the pending
nomination of a new Federal Reserve chief.
The optimism about the nomination of Janet Yellen to run the
U.S. central bank - she is expected to tread carefully in
winding down economic stimulus that has bolstered stocks - was
subdued however by the ongoing shutdown of the U.S. government.
"There was a spurt of optimism that came from the Yellen
announcement, largely because the market is searching for any
sense of certainty in this environment," said Craig Fehr,
Canadian market strategist at Edward Jones in St. Louis,
"At the end of the day however, as positive as that news
might have been interpreted by the markets, the focus is
remaining on Washington and we're seeing little progress toward
addressing some of the issues that loom in the next several
The Toronto Stock Exchange's S&P/TSX composite index
was up 15.78 points, or 0.12 percent, at 12,707.45 by
Three banks were in the top five of positive influences,
with Bank of Nova Scotia adding 0.6 percent to C$59.19,
Royal Bank of Canada up 0.5 percent at C$66.73, and
Toronto-Dominion Bank gaining 0.4 percent to C$91.41.
But the single biggest positive impact was from Suncor
Energy, which added 1 percent to C$36.17.
At the other end of the spectrum, major gold miner Goldcorp
Inc fell 1.7 percent to C$25.04 and Barrick Gold Corp
lost 1.6 percent to C$17.98.
The price of gold fell 1 percent as the Yellen news boosted
the U.S. dollar.