CANADA STOCKS-TSX edges higher in choppy trade

Fri Apr 20, 2012 10:36am EDT
 
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* TSX up 15 points, 0.1 pct, at 12,168.74
    * Eight of 10 sectors stronger

    By Claire Sibonney	
    TORONTO, April 20 (Reuters) - Toronto's main stock index
edged up Friday, as an improvement in German business sentiment
countered nervousness about the euro zone debt crisis, and solid
North American corporate results propelled what has been a
mostly positive earnings season. 	
    Eight of the 10 sectors were firmer, though weakness among
miners dragged on broader gains.	
    Key names on the upside included Cameco Corp, up 3
percent to C$21.68, Toronto-Dominion Bank, up 0.2
percent to C$84.12 and Potash Corp, up 0.6 percent to
C$43.40.	
    "Some people are starting to look at some of these commodity
stocks, they feel they've been oversold the last few weeks and
they're starting to pick some entry levels in them," said Bruce
Latimer, trader at Dundee Securities.	
    At 10:23 a.m. (1423 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was up 15.05 points, or 0.12
percent, at 12,168.74. The index briefly turned negative in
early trade and Latimer cautioned that an options expiry on
Friday may contribute to more volatility in the session.	
    On the data front, the influential German Ifo survey
unexpectedly rose for the sixth month in a row in April in a
sign that Europe's largest economy continues to outpace peers
and shrug off persistent worries about the euro zone debt
crisis. 	
    In individual company news Canadian Pacific Railway,
Canada's second-biggest railway, which is fighting a proxy
battle with its biggest shareholder, rose 0.2 percent to C$76.16
after reporting first-quarter profits more than quadrupled.
 	
   In the United States, better-than-expected results from
Microsoft and General Electric propelled what
has been a solid earnings season to date. 	
    On the downside, Barrick Gold fell 0.9 percent to
C$40.37, Sun Life Financial lost 0.8 percent to C$24.61
and Canadian National Railway slipped 0.3 percent to
C$79.36.