CANADA STOCKS-TSX edges up as energy, big banks gain

Tue Mar 30, 2010 5:00pm EDT
 
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* TSX up 14.49 points at 12,044.21

* Energy, financials lead way higher

* Technology, gold shares down (Adds details, quotes)

By Claire Sibonney

TORONTO, March 30 (Reuters) - Toronto's main stock index went for a wobbly ride on Tuesday and ended slightly higher as gains in its heavyweight energy and financial sectors were offset by weaker gold and technology shares.

The energy sector, up 1.1 percent, was the biggest gainer as U.S. crude prices settled above $82 a barrel after bright U.S. economic data spurred optimism about recovery in the world's largest energy consumer. [O/R]

Suncor Energy Inc (SU.TO: Quote), Canada's biggest oil company, rose almost 3 percent to C$32.90, while natural gas major EnCana Corp (ECA.TO: Quote) was up 1 percent at C$31.31.

"That might be the one bright spot. Everything is semi-shut down now and I think that it's just kind of a ho-hum market," said John Kinsey, a portfolio manager at Caldwell Securities, referring to the Passover holiday this week and the upcoming Easter long weekend.

U.S. consumer confidence rebounded in March, while home prices rose in January for the eighth straight month according to a closely watched housing index, bolstering hopes for a sustainable economic recovery. [ID:nN30150986]   Continued...