CANADA STOCKS-TSX climbs off 4-mth low on U.S. jobs data; miners tumble

Fri Oct 3, 2014 10:54am EDT
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* TSX up 85.23 points, or 0.58 percent, at 14,845.87
    * Nine of the 10 main index sectors advance
    * Gold-mining shares slip with bullion price

    By John Tilak
    TORONTO, Oct 3 (Reuters) - Canada's main stock index
advanced on Friday as a bullish U.S. jobs report helped ease
concerns about the strength of the economic recovery and drove
gains across most major sectors.
    Figures showed an acceleration of hiring by U.S. employers
in September and a decline in the jobless rate to a six-year
    The data, however, also fueled a rise in the U.S. dollar and
that weighed on the bullion price and on the shares of gold
miners, limiting the Toronto stock market's gains.
    The benchmark TSX index looked set to record its fifth
straight weekly decline with sentiment hit this week by
geopolitical concerns, news about the first case of Ebola in the
United States and worries about when the U.S. Federal Reserve
might raise interest rates.
    "The correction is getting a little tired. We could see a
rebound here," said Rick Hutcheon, president and chief operating
officer at RKH Investments.
    He said signals from the Fed have suggested that a rise in
U.S. interest rates is not imminent, while the Canadian market's
recent pullback has made it more attractive. The upcoming
earnings season could prove to be a driver, Hutcheon added. 
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 85.23 points, or 0.58 percent, at 14,845.87.
Nine of the 10 main sectors on the index were higher.
    The index hit a four-month low of 14,545.59 on Thursday.
    Financials, the index's most heavily weighted sector,
climbed 0.6 percent. Toronto-Dominion Bank advanced 0.6
percent to C$54.30, and Bank of Montreal rose 0.7
percent to C$82.29.
    Shares of energy producers added 0.5 percent, with Suncor
Energy Inc gaining 1.1 percent to C$40.48. 
    The gold-mining sector tumbled 3.1 percent, with the price
of bullion falling below $1,200 for the first time this year.
Barrick Gold Corp dropped 3.5 percent to C$15.86, and
Goldcorp Inc shed 3.1 percent to C$25.58.
    ($1=$1.13 Canadian)

 (Editing by Peter Galloway)