CANADA STOCKS-Toronto stocks edge higher after six day of losses

Mon Jun 10, 2013 5:04pm EDT
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* TSX rises 9.37 points, or 0.08 pct, to 12,382.67

* Six of 10 TSX index sectors rise

* House starts, upgrade to U.S. credit outlook offer support

By Peter N Henderson

TORONTO, June 10 (Reuters) - Canada's main stock index advanced slightly on Monday as an upgrade of the U.S. credit outlook and strong domestic housing starts helped lift shares of financial companies, while energy shares rebounded from recent weakness.

Standard & Poor's upgraded its credit outlook for the United States government to "stable" from "negative", reducing the threat of a further downgrade to the country's sovereign debt rating.

The index's gains were kept in check by data from China that indicated weakness in May exports and domestic activity struggling to pick up, increasing the risk that economic growth will slow further in the second quarter and that full-year forecasts may be cut.

Monday's gain was a minor recovery after six days of decline for the TSX index. The energy sector, which has been on the defensive since mid-May, rose 0.2 percent and played the biggest role of any sector in the rise. Major gainers included Suncor Energy Inc, which climbed 0.44 percent to C$31.80.

The TSX financials subgroup added 0.2 percent, helped by data showing Canadian house starts jumped by much more than expected in May from April.   Continued...