CANADA STOCKS-TSX nears eight-week high as resource shares gain
* TSX up 72.23 points, or 0.48 percent, at 15,052.38 * Seven of 10 main index sectors advance * Gold-mining shares jump 2.2 percent By John Tilak TORONTO, Nov 20(Reuters) - Canada's main stock index rose to its highest in nearly eight weeks on Thursday as shares of gold miners and energy producers jumped with commodity prices. A stronger U.S. dollar helped support the bullion price, which also benefited from investors looking to take advantage of the recent decline. The market largely shrugged off concerns about the global economy, which resurfaced as data showed a slowdown in growth in China's factory sector and sluggish private sector growth in Europe. "Investors have become a little more constructive on energy and gold. Finally, they are buying the dip," said Douglas Davis, vice chairman at Davis-Rea. "The real trend for oil seems to still be down. So it may be premature to be buying energy stocks," he added. Davis is more positive about the prospects for natural gas companies. The Toronto Stock Exchange's S&P/TSX composite index was up 72.23 points, or 0.48 percent, at 15,052.38. Seven of the 10 main sectors on the index were higher. Shares of energy producers advanced 1.8 percent, with oil prices rising in anticipation of a positive outcome from an Organization of the Petroleum Exporting Countries meeting next week. Canadian Natural Resources Ltd gained 2.5 percent to C$41.64, and Suncor Energy Inc added 1.4 percent to C$39.24. The gold-mining sector jumped 2.2 percent. Barrick Gold Corp advanced 2.1 percent to C$14.39, and Goldcorp Inc was up 2 percent, at C$23.18. Shares of Nevsun Resources Ltd jumped more than 13 percent to C$4.80 after a Bloomberg report citing unnamed sources said mining fund QKR Corp is close to making a bid for the company. (With additional reporting by Jeffrey Hodgson; Editing by W Simon and Nick Zieminski)
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