* TSX up 36.07 points, or 0.24 percent, at 15,297.71
* Seven of 10 main index sectors advance
* Aecon, Ithaca Energy slip after results
By John Tilak
TORONTO, Aug 12 Canada's main stock index rose
on Tuesday, headed for a third straight winning session, as a
jump in gold-mining shares and gains in financials helped
provide support to a market fixated on geopolitical tensions in
Ukraine and elsewhere.
Shares of gold producers benefited as the bullion price was
up after a report showed economic sentiment among analysts and
investors in Germany hit a low point on concerns about the
impact of the Ukraine crisis.
A Russian convoy carrying food, water and other assistance
headed for eastern Ukraine, where government forces closed in on
pro-Russian rebels. Kiev said it would not allow the vehicles to
cross into its territory.
Investors remained nervous about the ongoing geopolitical
crises, including those in the Gaza Strip and Israel as well as
The Toronto market has shrugged off such worries in recent
days to rebound after a selloff in the previous week. It is up
more than 12 percent this year.
"The market is very quiet but wants to lift a little bit,"
said Douglas Davis, chief executive officer at Davis-Rea, who is
positive about Canadian equities. "It would take a rising
interest rate environment to make equities less valuable."
"Stocks have had a great run, everyone is cautious," he
added. "The best time to (get) in is when everyone is cautious."
The Toronto Stock Exchange's S&P/TSX composite index
was up 36.07 points, or 0.24 percent, at 15,297.71.
Seven of the 10 main sectors on the index were higher.
Among gold mining shares, Goldcorp Inc climbed 2.6
percent to C$31.65 and Barrick Gold Corp jumped 2.4
percent to C$20.95.
Financials, the index's most heavily weighted sector,
advanced 0.5 percent, with Bank of Nova Scotia adding
0.5 percent to C$72.42.
A drop in oil prices weighed on shares of energy producers.
Canadian Natural Resources Ltd lost 1 percent to
Aecon Group Inc dropped 2.2 percent to C$16.25
after the construction company reported lower quarterly revenue
Ithaca Energy Inc was down 2.8 percent, at C$2.46,
after the company reported a first-half pretax loss versus a
(Editing by Jeffrey Benkoe)