CANADA STOCKS-TSX climbs as resources gain on Ukraine tension
* TSX rises 37.88 points, or 0.27 percent, to 14,295.57 * Six of the 10 main index sectors advance * Enbridge slips after B.C. town votes against pipeline By John Tilak TORONTO, April 14 (Reuters) - Canada's main stock index advanced on Monday as concerns about instability in Ukraine lifted oil and bullion prices, pushing up the shares of producers of the safe-haven resources. The market was also encouraged by data showing U.S. retail sales recorded their largest gain in 1-1/2 years in March. Driving the investor move to safe havens, pro-Russian separatists have been occupying government buildings in eastern Ukraine, while another group of rebels attacked a police headquarters, raising fears that the crisis might be spiraling out of control. Global stock markets have been highly volatile in recent weeks over concerns about stretched valuations and the U.S. Federal Reserve's monetary policy. The Toronto stock market's benchmark index, which lost about 1 percent last week, is up about 5 percent this year, and has outperformed the S&P 500 index so far this year. "The overall sentiment is cautious," said Irwin Michael, portfolio manager at ABC Funds. "But we think stocks are good value, and we believe that the various stock indices will end the year higher than where they are today." "Many of the pundits are favoring the U.S. market over Canada, but we're taking a contrarian view," he added. "We think the Canadian resource sector will do better." The Toronto Stock Exchange's S&P/TSX composite index was up 37.88 points, or 0.27 percent, at 14,295.57. Six of the 10 main sectors on the index were higher. Gold-mining shares jumped 2.2 percent, reflecting gains in the price of the precious metal. Goldcorp Inc added 1.6 percent to C$26.87, and Barrick Gold Corp advanced 1.5 percent to C$20.75. Energy shares rose 0.5 percent, with higher oil prices driving the gains. Suncor Energy Inc climbed 0.5 percent to C$39.66, and Canadian Natural Resources Ltd was up 0.3 percent at C$43.43. In corporate news, residents of the British Columbia town of Kitimat voted this weekend against the proposed Northern Gateway pipeline project in a blow to Enbridge Inc's efforts to expedite the flow of crude from Canada's oil sands to markets in Asia. Enbridge shares gave back 0.9 percent to C$50.70. ($1=$1.10 Canadian) (Editing by Peter Galloway)
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