CANADA STOCKS-Oil and gold price rallies boost TSX resource stocks

Wed Apr 1, 2015 4:44pm EDT
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* TSX ends down 40.11 points, or 0.27 percent, at 14,942.55

* 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 gained on Wednesday as rising prices for commodities such as oil and bullion bolstered the energy and mining sectors, which together make up almost a third of the index.

Oil prices jumped after three days of losses as U.S. crude output fell for the first time in two months. Gold also rallied after a downbeat U.S. jobs report suggested policymakers there could delay a tightening of U.S. monetary policy.

Barrick Gold Corp surged 9.5 percent to C$15.16 and Goldcorp Inc rose 4.7 percent to C$24. The pair, two of the world's largest gold miners, topped all positive influencers.

Fund managers said Canadian trading would likely struggle to form a coherent narrative in coming weeks and months as a range of issues jostle for attention.

"It doesn't feel very calm out there," said Marcus Xu, portfolio manager at M.Y. Capital Management Corp in Vancouver. "We are entering a quarter that's full of uncertainty, whether it is on corporate earnings, Fed interest rate (policy) or commodity prices. This quarter will be confusing and volatile."   Continued...