CANADA STOCKS-TSX ends a touch higher after seesaw day

Thu Apr 15, 2010 5:33pm EDT
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* TSX edges up 0.06 percent to 12,211.52

* UPS results lift transport shares; CN Rail up 1.8 pct

* Data points to slow U.S. recovery (Updates to close)

TORONTO, April 15 (Reuters) - Toronto's main stock index finished a touch higher on Thursday after a seesaw session as mixed economic news offset the influence of strong earnings from UPS in the United States.

Upbeat results and a strong profit forecast from United Parcel Service (UPS.N: Quote) late on Wednesday helped boost overall sentiment as it was the latest in a string of major U.S. companies to report solid earnings.

The UPS results helped lift transportation shares, including Canadian National Railway (CNR.TO: Quote), which jumped 1.79 percent to C$63.53. Canadian Pacific Railway (CP.TO: Quote) was up 0.65 percent at C$59.02.

Ian Nakamoto, director of research at MacDougall, MacDougall and MacTier said the results from economic bellwether UPS were well received in Canada.

"That's confirmation also that the global economy is on the mend. It hasn't fully healed, but it's certainly on the mend," he said.

On the economic front, U.S. data pointed to a relatively slow economic recovery. Figures showed U.S. manufacturers ramped up production to rebuild inventories in April but weekly labor numbers remained soft. [ID:nN15325702]   Continued...