CANADA STOCKS-TSX advances as energy, gold-mining shares rise

Wed Nov 12, 2014 10:53am EST
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* TSX up 20.80 points, or 0.16 percent, at 14,783.15
    * Seven of 10 main index sectors decline
    * Gold miners jump 1.8 percent

    By John Tilak
    TORONTO, Nov 12 (Reuters) - Canada's main stock index edged
higher on Wednesday as the energy sector strengthened after an
earlier decline and shares of gold miners jumped with the price
of bullion.
    The benchmark TSX recorded its sixth straight daily gain and
has rebounded from an eight-month low hit last month.
    Energy shares, which have been in focus because of the
recent selloff in oil, bounced back on Wednesday. The group is
still down about 23 percent since the middle of June.
    "It looks like the big-cap companies like Canadian Natural
Resources Ltd have hit the bottom and bounced. But
sentiment is very muted outside of the top three or four energy
companies," said Bill Harris, portfolio manager at Avenue
Investment Management.
    He said he has been buying high-quality energy companies
during the pullback.
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 20.80 points, or 0.16 percent, at 14,783.15.
Seven of the 10 main sectors on the index, however, were in the
    Shares of energy producers climbed 1.3 percent, despite
weakness in the price of oil. Suncor Energy Inc added
1.7 percent to C$39.97, and Canadian Natural gained 1.3 percent
to C$41.65.
    The gold-mining sector jumped 1.8 percent, reflecting strong
bullion prices. Barrick Gold Corp advanced 1.7 percent
to C$13.43, and Goldcorp Inc rose 1.8 percent to C$22.61.
    Valeant Pharmaceuticals International Inc  
shares were little changed after a report that Actavis Plc
 is in talks to buy Allergan Inc for at least $60

 (Editing by James Dalgleish)