CANADA STOCKS-TSX boosted by Europe data, U.S. earnings

Tue Apr 17, 2012 10:50am EDT
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* TSX rises 70.22 points, 0.6 pct, to 12,107.81
    * All 10 sectors advance after soft start

    By Claire Sibonney	
    TORONTO, April 17 (Reuters) - Toronto's main stock index
climbed on Tuesday after a shaky start as investors focused on
encouraging U.S. corporate results and improving sentiment about
Europe's economy. 	
    A Spanish debt auction went smoothly and German data gave an
upbeat reading of the euro zone's largest economy, providing
some relief to investors worried about the debt crisis.
    Among the top gainers on the index, Suncor Energy 
rose 2.2 percent to C$31.49, Manulife Financial climbed
2.2 percent to C$13.22 and Potash Corp added 1.5
percent to C$43.55.	
    Gold miners made up three of top five laggards. Barrick Gold
 was down 0.3 percent to C$40.68, Goldcorp Inc 
fell 0.4 percent to C$41.21 and Yamana Gold lost 1.2
percent to C$14.64.	
    "Gold stocks are discounting about a $1,000 gold price, and
the oil stocks are discounting about an $80 oil price," said
John Kinsey, portfolio manager at Caldwell Securities.	
    "I'm hoping when the first-quarter earnings come for these
companies that they'll be good, and that might help to close the
gap somewhat."	
    U.S. crude futures advanced toward $105 a barrel on Tuesday,
while spot gold slipped to a session low below $1,635 an ounce.
    At 10:30 a.m. (1430 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was up 70.22 points, or 0.58
percent, at 12,107.81. All 10 sectors were stronger.	
    U.S. shares were underpinned by some corporate results that
topped expectations, including from Goldman Sachs Group Inc
 and Coca-Cola Co. 	
    However, market participants said Spain's precarious fiscal
position would remain a worry and the most important test would
come with an auction of Spanish 10-year debt on Thursday, which
could put the euro and other markets back under pressure.