CANADA STOCKS-TSX steady as a resource gains offset by banks

Wed Apr 1, 2015 10:45am EDT
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* TSX down 3.56 points, or 0.02 percent, at 14,898.88

* Six of 10 main index sectors decline

* Barrick, Goldcorp soar with bullion price

By John Tilak

TORONTO, April 1 (Reuters) - Canada's main stock index was little changed on Wednesday as strength in the price of commodities such as oil and bullion helped drive gains in the energy and mining sectors, offsetting weakness in the financial sector.

Oil prices were higher as negotiations over Iran's nuclear program dragged on.

Trading in the benchmark Canadian index, which recorded a gain of 1.9 percent in the first quarter, has been choppy in recent months because of volatility in commodity prices.

"We're going to be in these types of markets. At least the fluctuations don't seem too violent in scope," said David Cockfield, managing director and portfolio manager at Northland Wealth Management.

"While I'm getting more negative on the energy sector, and in particular the oil stocks, I am becoming more positive on the longer term economic outlook," he added.   Continued...