CANADA STOCKS-TSX rises as strong China data spurs resources
* TSX up 41.85 points, or 0.33 percent, at 12,564.09 * All 10 main index sectors advance * Gold-mining stocks make biggest gains By John Tilak TORONTO, Jan 10 (Reuters) - Resource shares pushed Canada's main stock index higher on Thursday as robust trade data from China signaled a pickup in global demand and boosted commodity prices. Investors were also encouraged by the European Central Bank's decision to keep interest rates on hold and by ECB comments that the euro zone economy will recover later in 2013. The index's materials sector, which includes mining stocks, jumped 1.5 percent, with gold companies making the biggest gains on a rally in gold prices. Goldcorp Inc added 3.6 percent to C$36.69, Barrick Gold Corp gained 1.8 percent to C$33.81, and Yamana Gold Inc jumped 4.4 percent to C$17.03. The three stocks played a major role in leading the index higher. Data on Thursday showed China's exports hit a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown. "People are looking for evidence that (China's) economy is picking up. It's given the market a little bit of room for optimism," said Michael Sprung, president of Sprung Investment Management. At midmorning, the Toronto Stock Exchange's S&P/TSX composite index was up 41.85 points, or 0.33 percent, at 12,564.09. All of the index's 10 main sectors were higher. The energy sector was up 0.1 percent as Brent crude prices rose 0.7 percent rise on the Chinese data and on news that Saudi Arabia was cutting its crude oil production.. In the group, Suncor Energy Inc rose 0.9 percent to C$33.58. \ "We don't think it's going to be a blockbuster year, but it could be a better year for energy stocks in particular and hopefully some material stocks," Sprung said. Financials rose 0.2 percent, with Toronto-Dominion Bank up 0.5 percent at C$82.58.
© Thomson Reuters 2016 All rights reserved.