CANADA STOCKS-Bank, energy shares push TSX higher
* TSX rises 30.47 points, or 0.21 percent, to 14,402.92 * Seven of the 10 main index sectors advance * Dollarama jumps after reporting results By John Tilak TORONTO, April 9 (Reuters) - Canada's main stock index rose on Wednesday as gains in its financial and energy sectors helped offset weakness in gold-mining shares after the bullion price slipped. Global equity markets have been stabilizing after a selloff in U.S. biotechnology and technology shares that began last week hit investor sentiment. Investors were also awaiting minutes from the Federal Reserve's latest meeting, seeking clues on U.S. monetary policy direction. The Toronto stock market's benchmark index was up for a second straight session and had recovered most of its recent losses. "It's pretty quiet so far. We're just in a little bit of a lull period here," said Colin Cieszynski, senior market analyst at CMC Markets Canada. "You're essentially seeing markets continue to consolidate." "I expect the Fed to continue tapering and sometime next year to start normalizing interest rates," he added. The Toronto Stock Exchange's S&P/TSX composite index was up 30.47 points, or 0.21 percent, at 14,402.92. It has gained about 5.7 percent this year. "The TSX is holding up fairly well," Cieszynski said. "Improvement in commodity prices will help the TSX in the short term, and in the longer term Canada can still benefit from an improving U.S. economy." Seven of the 10 main sectors on the index were higher on Wednesday. Financials, the index's most heavily weighted sector, rose slightly. Royal Bank of Canada advanced 0.3 percent to C$73.32, and Bank of Montreal added 0.3 percent to C$75.34. The energy group climbed 0.2 percent, with Canadian Natural Resources Ltd gaining 0.3 percent to C$43.83. Shares of gold producers lost 0.9 percent, reflecting a decline in the bullion price. Barrick Gold Corp gave back 0.9 percent to C$20.35. In corporate news, Dollarama Inc reported a higher fourth-quarter profit and raised its quarterly dividend. Shares of the retailer jumped 6.5 percent to C$91.31. ($1=$1.09 Canadian) (Editing by Peter Galloway)
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