CANADA STOCKS-U.S. data takes TSX higher as resources gain

Tue Jan 14, 2014 10:33am EST
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* TSX rises 48.37 points, or 0.35 percent, to 13,729.85
    * Eight of 10 main index sectors advance
    * Potash is market's biggest positive influence
    * Shaw slips after quarterly report

    By John Tilak
    TORONTO, Jan 14 (Reuters) - Canada's main stock index
climbed on Tuesday, firming after a decline in the previous
session, as upbeat U.S. retail sales data drove up shares of
materials and energy companies.
    However, a decline in shares of Shaw Communications Inc
, following the cable company's quarterly report,
capped the gains.
    A government report said a gauge of U.S. consumer spending
rose more than expected in December, indicating greater momentum
for the world's biggest economy. 
    After recording a 9.6 percent gain last year, the Toronto
market has been volatile this year.
    "You are getting just a little buyer's fatigue," said Matt
Skipp, president of SW8 Asset Management.
    "If the commodity markets regain their footing and the U.S.
economy truly strengthens, Canada will do very well, especially
with the lower currency," he said of the TSX's prospects for
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 48.37 points, or 0.35 percent, at 13,729.85.
    Eight of the 10 main sectors on the index were higher.
    The materials sector, which includes mining stocks, jumped
1.2 percent. 
    Fertilizer company Potash Corp rose 2.5 percent to
C$36.95 and had the biggest positive influence on the market.
Miner Teck Resources Ltd added 2.1 percent to C$26.60.
    Shaw shares slipped 3.2 percent to C$24.50 after the company
posted a 4 percent rise in first-quarter profit, but it
continued to lose customers in its main cable television
    Shares of energy producers were up 0.2 percent, with Suncor
Energy Inc gaining 0.6 percent to C$37.48.