CANADA STOCKS-TSX nears one-month high as natural resources jump

Fri Nov 7, 2014 10:45am EST
 
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* TSX up 95.52 points, or 0.66 percent, at 14,658.90
    * Six of 10 main index sectors decline
    * Gold miners jump 3.3 percent, energy shares rise 2 percent

    By John Tilak
    TORONTO, Nov 7 (Reuters) - Canada's main stock index reached
its highest in almost a month on Friday as shares of natural
resource producers strengthened with commodity prices and
positive Canadian jobs data boosted overall sentiment.
    The Canadian economy unexpectedly added 43,100 jobs in
October and the unemployment rate dropped to a near six-year low
of 6.5 percent. 
    South of the border, it was a mixed picture as data showed
that U.S. jobs growth missed expectations in October, but the
unemployment rate dropped to a six-year low. 
    Despite Friday's gains, the benchmark TSX has not rebounded
from the recent equity selloff to hit record levels like its
U.S. peers have.
    "Canada has not bounced back as strongly. There's still a
lot of pressure on oil," said Kevin Headland, director,
portfolio advisory group, at Manulife Asset Management.
    "Value investors are starting to pick up oil companies and
realizing that there is probably more upside at this price than
there is downside," he added.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 95.52 points, or 0.66 percent, at 14,658.90.
Six of the 10 main sectors on the index were in the red.
    Shares of energy producers jumped 2 percent. Canadian
Natural Resources Ltd gained 2.6 percent to C$40.77,
and Suncor Energy Inc was up 2 percent at C$39.28.
    The gold-mining sector advanced 3.3 percent, reflecting
stronger bullion prices. Barrick Gold Corp added 3.4
percent to C$13.41, and Goldcorp Inc rose 3.5 percent to
C$21.95.
    Shares of Cameco Corp surged 8.8 percent to
C$20.81, rising with other uranium producers such as Paladin
Energy, UR-Energy and Uranerz Energy Corp
, after Japan moved closer to restarting two nuclear
reactors. 
    Japan's nuclear industry has been stalled for more than
three years after the Fukushima disaster led to the shutdown of
its fleet of reactors.

 (Additional reporting by Rod Nickel in Winnipeg; Editing by
James Dalgleish)