CANADA STOCKS-TSX rises 5th day on Barrick, commodity prices gain
* TSX rises 73.13 points, or 0.60 percent, to 12,164.07 * Nine of 10 main sectors advance * Barrick climbs 3.3 percent after results By John Tilak TORONTO, April 24 (Reuters) - Canada's main stock index advanced for a fifth straight session on Wednesday, helped by a jump in Barrick Gold Corp shares and gains in other materials and energy stocks as commodity prices rose. But gains were capped by orders for long-lasting U.S. manufactured goods, which recorded the biggest drop in seven months in March and a gauge of planned business spending, which rose modestly. Wednesday's U.S. data pointed to a slowdown in economic activity. Barrick, the world's biggest gold miner, rose 3.3 percent after it said it was scaling back capital spending and had progress in controlling costs, while reporting a drop in first-quarter profit. Still, earnings were slightly ahead of market expectations. "The market is rallying off what appears to be a respectable quarter," said Matt Skipp, president of SW8 Asset Management. "It's (Barrick) the most oversold and heavily shorted major gold company in North America. It probably deserves a bounce today," he added. Barrick shares, which rose to C$18.60, are off 58 percent since hitting a 52-week high in June 2012. The Toronto Stock Exchange's S&P/TSX composite index was up 73.13 points, or 0.60 percent, at 12,164.07. The gains over the past week have not been enough to recover from the index's huge selloff earlier this month, triggered by a rout in commodity prices, including the biggest single-day drop in gold prices ever. Nine of the 10 main sectors on the index were higher on Wednesday. Barrick's jump and higher gold prices helped the materials sector rise 2.3 percent. Gold shares, down about 35 percent on the year, were up 3.3 percent. Energy shares climbed 0.7 percent as oil prices rose. In other earnings news, shares of Cenovus Energy, Canada's No. 2 independent oil producer, rose nearly 1 percent to C$29.01 after it posted a quarterly operating profit that beat analysts' estimates.
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