CANADA STOCKS-TSX rises as golds offset weak U.S. data

Thu Jun 17, 2010 5:24pm EDT
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* TSX rises 24.92 points to 11,945.97

* Gold miners take lead, half of TSX's sectors rise

* Weak U.S. data weighs on investor sentiment (Adds details, quotes)

By Cameron French

TORONTO, June 17 (Reuters) - Toronto's main stock index rose for a sixth-straight day on Thursday, ending a choppy session higher as strong gold shares offset weaker financial issues, which were pressured by soft U.S. economic data.

Bank and insurance stocks fell 0.45 percent and oil and gas stocks were pressured after factory data in the U.S. Mid-Atlantic region was weaker than expected and U.S. jobless claims rose.

"The broader concern is the U.S employment market is not bouncing back," said Francis Campeau, a broker at MF Global Canada in Montreal.

Concern over the U.S. figures lit a flight-to-safety fire under gold futures, which rose to a record high close of $1,248.70, and helped gold-mining issues rally and drive the index's materials sector up 1.59 percent.

"They're strong," said Bruce Latimer, a trader at Dundee Securities, who noted the index's gains were due to a late rally. "It's been a see-saw day... it just seems the market's been up 10, down 10, up 10, up 10 down 10 in the last few minutes."   Continued...