CANADA STOCKS-TSX climbs as energy, mining shares gain
* TSX up 56.67 points, or 0.41 percent, at 13,926.55 * Five of the 10 main index sectors decline * Energy, mining shares lead market higher By John Tilak TORONTO, Oct 16 (Reuters) - Canada's main stock index rose in choppy trading on Thursday as gains in the energy and mining sectors helped offset concerns about global economic growth. Worries about the direction of the global economy and fears that the U.S. Federal Reserve might raise interest rates have hit equity markets hard in recent weeks. The market also digested data on Thursday that showed Canadian factory sales recorded their first fall this year in August, their biggest drop in five years. The Toronto stock market's benchmark TSX index has lost nearly 12 percent of its value since reaching a record high last month. "We're getting a revaluation. The realization that the market was richly valued has finally hit home," said John Ing, president of Maison Placements Canada. "In the near term, there's still a little more downside," he added. "The (Canadian) market could go lower before getting a bounce." The Toronto Stock Exchange's S&P/TSX composite index was up 56.67 points, or 0.41 percent, at 13,926.55. Five of the 10 main sectors on the index were higher. Shares of energy producers got a bounce after recent weakness. Canadian Natural Resources Ltd added 1.9 percent to C$36.72, and Suncor Energy Inc climbed 1.6 percent to C$36.88. The materials sector, which includes mining stocks, advanced 0.4 percent. Barrick Gold Corp jumped 2.2 percent to C$15.57. Financials, the index's most heavily weighted sector, gave back 0.3 percent. Royal Bank of Canada lost 0.8 percent to C$76.68, and Bank of Montreal shed 0.4 percent to C$78.01. ($1=$1.13 Canadian) (Editing by Peter Galloway)
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