November 5, 2009 / 3:45 PM / 8 years ago

CANADA STOCKS-U.S. economic data helps boost TSX

 * TSX up 12.46 points, or 0.11 percent, at 11,083.66
 * U.S. economic data helps index higher
 * Sun Life, Manulife fall after earnings reports  (Adds details, quote)
 TORONTO, Nov 5 (Reuters) - Toronto’s main stock index was higher on Thursday morning as U.S. economic data helped to lift investor spirits about the pace of economic recovery.
  The U.S. figures showed third-quarter business productivity grew at the fastest pace in six years and that new claims for jobless aid fell to a 10-month low last week, indicating the decline in the labor market may be hitting bottom. [ID:nN05106320]
 Among the top Toronto gainers were Royal Bank of Canada (RY.TO), up 0.8 percent at C$54.67, and Toronto-Dominion Bank (TD.TO), which climbed 0.4 percent to C$63.25. Teck Resources TCKb.TO was up 2.7 percent at C$32.70.
 “There’s was a lineup of good numbers at the macroeconomic level,” said Francis Campeau, broker at MF Global Canada, in Montreal.
 At 10:17 a.m. (1517 GMT), the S&P/TSX composite index .GSPTSE was up 12.46 points, or 0.11 percent, at 11,083.66, with seven of its 10 main groups higher.
 Research In Motion RIM.TO rose 1.7 percent to C$62.40 after the BlackBerry maker announced a share buyback worth up to $1.2 billion. [ID:BNG285489]
 Insurer Sun Life Financial Inc (SLF.TO) was down 5.2 percent at C$28.56 and Manulife Financial Corp (MFC.TO) fell 2.4 percent to C$20.09. Both reported profit drops on Thursday. [ID:nN04548767] [ID:nN049268]
 Lower oil and gold prices also pressured some commodity-linked shares including Canadian Natural Resources (CNQ.TO), down 2 percent at C$67.23. Canadian Natural reported a lower quarterly profit on Thursday.
 ($1=$1.06 Canadian)  (Reporting by Jennifer Kwan; editing by Peter Galloway)                                      

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