CANADA STOCKS-TSX climbs as Putin remarks calm Ukraine fears

Thu Aug 14, 2014 10:53am EDT
 
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* TSX up 38.67 points, or 0.25 percent, at 15,301.40
    * Eight of the 10 main index sectors advance
    * Valeant one of the biggest heavyweight gainers

    By John Tilak
    TORONTO, Aug 14 (Reuters) - Canada's main stock index
advanced on Thursday as comments by Russian President Vladimir
Putin helped ease concerns about a further escalation of the
crisis in Ukraine and drove gains in most major sectors.
    Putin said Russians need to mobilize for the benefit of
their country but not for conflict with the outside world.
 
    The Toronto stock market's benchmark TSX index is up more
than 12 percent this year, though trading has been choppy in the
past couple of weeks due to the crises in Ukraine and the Middle
East.
    "The latest news out of Ukraine has given a little bit of
calmness to the markets," said Allan Small, a senior investment
adviser at HollisWealth. "Investors should look at these events
as short-term opportunities and accumulate positions in
good-quality investments." 
    "(A) low interest rate environment and easy money by the
(U.S. Federal Reserve) and central banks around the world will
continue to drive global stock markets higher," he added.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 38.67 points, or 0.25 percent, at 15,301.40.
Eight of the 10 main sectors on the index were higher. 
    Financials, the index's most heavily weighted sector, gained
0.5 percent, with Royal Bank of Canada rising 0.6
percent to C$80 and Toronto-Dominion Bank adding 0.4
percent to C$56.72.
    The consumer staples group was up 0.5 percent.
Alimentation Couche-Tard Inc advanced 1.2 percent to
C$30.06. 
    A rise in Valeant Pharmaceuticals International Inc
, which climbed 1.3 percent to C$120.76, helped boost
the healthcare sector. The stock was one the most influential
gainers on the index.
    ($1=$1.09 Canadian)

 (Editing by Peter Galloway)