January 20, 2015 / 4:03 PM / 3 years ago

CANADA STOCKS-TSX steady after Chinese data; energy shares drop

2 Min Read

* TSX down 17.42 points, or 0.12 percent, at 14,295.08

* Seven of the 10 main index sectors decline

* Gold miners jump with bullion price

By John Tilak

TORONTO, Jan 20 (Reuters) - Canada's main stock index was little changed on Tuesday as investors found relief in data that showed economic growth in China was not as weak as some had expected, but shares of energy producers fell with oil prices.

The Chinese economy grew at its slowest pace in 24 years in 2014, but fourth-quarter growth held steady at 7.3 percent, slightly stronger than had been expected.

Investors also digested a report in which the International Monetary Fund lowered its global growth projections and said central banks should favor accommodative monetary policies.

The market expected the European Central Bank to announce stimulative measures on Thursday.

"The market is pretty indecisive. People really don't know what to do here," said Colin Cieszynski, chief market strategist at CMC Markets.

"We've got this big event on Thursday and nobody wants to get too far overextended in either direction ahead of that," he added.

The Toronto Stock Exchange's S&P/TSX composite index was down 17.42 points, or 0.12 percent, at 14,295.08. Seven of the 10 main sectors on the index were in the red.

Financials, the index's most heavily weighted sector, gave back 0.5 percent. Royal Bank of Canada shed 0.5 percent to C$75.39.

Shares of energy producers declined 1.8 percent. Suncor Energy Inc lost 1.8 percent to C$34.92, and Canadian Natural Resources Ltd was down 0.4 percent at C$34.25.

Shares of gold miners jumped with the bullion price. Barrick Gold Corp advanced 5.7 percent to C$15.02, and Goldcorp Inc climbed 2.4 percent to the C$29.37.

$1=$1.21 Canadian Editing by Peter Galloway

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