CANADA STOCKS-TSX climbs as China, Ukraine concerns abate
(Adds details, comments from analyst; updates prices) * TSX rises 44.89 points, or 0.31 percent, to 14,323.44 * Nine of 10 main index sectors advance * Teck jumps more than 3 percent after copper prices gain By John Tilak TORONTO, March 25 (Reuters) - Canada's main stock index rose on Tuesday on expectations that the Chinese government may unveil some stimulus measures and that the crisis in Ukraine will not worsen. Hopes of a stimulus package from China boosted the price of copper, which hit a two-week high, and sent shares of diversified miner Teck Resources Ltd up more than 3 percent. Investors also watched as Russia indicated a willingness to engage with the West after major industrialized countries warned Moscow of tougher economic sanctions. The Toronto market firmed after dropping in the previous two sessions and has advanced about 5 percent this year. Despite the modest gain, there is no real indication of confidence in the market, said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "People are more fearful about the downside about global growth than the upside," Nakamoto said. Nakamoto said he remains optimistic about the prospects for the TSX this year, largely because he sees strength in sectors, such as financials, that are less sensitive to the global economy. The Toronto Stock Exchange's S&P/TSX composite index was up 44.89 points, or 0.31 percent, at 14,323.44. Nine of the 10 main sectors on the index were higher. Financials, the index's most heavily weighted sector, were up 0.2 percent, with Royal Bank of Canada advancing 0.4 percent to C$72.70. Bank of Montreal gained 0.3 percent, to C$73.70, after shareholders in UK fund manager F&C Asset Management voted in favor of a 708 million pounds ($1.17 billion) takeover bid by BMO. The materials sector, which includes mining stocks, rose 1.3 percent. The group benefited from the jump in the price of copper, as well as gains in other commodities such as gold and silver. Teck climbed to C$24.15, and Agrium Inc added 1.7 percent to C$106.53. (Editing by Grant McCool)
© Thomson Reuters 2017 All rights reserved.