CANADA STOCKS-TSX climbs on signals of strength from China, U.S.
* TSX rises 59.22 points, or 0.45 percent, to 13,339.94 * Seven of the 10 main index sectors advance * RBC plays biggest role in pushing index higher * Barrick, Goldcorp climb with bullion prices By John Tilak TORONTO, Dec 9 (Reuters) - Canada's main stock index rose on Monday after positive Chinese economic signals helped push up some commodity prices and a strong U.S. jobs report on Friday suggested stability in the world's biggest economy. Seven of the 10 main sectors on the index were in positive territory, with bank and gold-mining shares driving the gains. Data showed China's exports topped forecasts in November and that annual consumer inflation in the month slowed unexpectedly. A report released on Friday showed U.S. employers hired more workers than expected in November and the jobless rate reached a five-year low. While such upbeat news has often elicited negative responses from the market due to fears that the U.S. Federal Reserve might begin to scale back its stimulus program, investors have welcomed the latest wave of data. "The market seems to be finally treating good news as good news," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. He said he is positive on the Canadian equity market, adding the Fed is unlikely to make any major move until March. "We may have the stage set for a rally into the end of the year." The Toronto Stock Exchange's S&P/TSX composite index was up 59.22 points, or 0.45 percent, at 13,339.94. Financials, the index's most heavily weighted sector, climbed 0.9 percent. Royal Bank of Canada, the country's biggest lender, jumped 1.8 percent to C$70.28 and had the biggest positive influence on the index. Toronto-Dominion Bank gained 1.2 percent to C$96.62. Gold miners jumped more than 2 percent, supported by gains in the price of bullion. Barrick Gold Corp rose nearly 3 percent to C$16.86, and Goldcorp Inc added 1.5 percent to C$22.76. In related news, Goldcorp said a group challenging its use of lands around its Peñasquito mine in Mexico is threatening to sue the company in Canada.
© Thomson Reuters 2016 All rights reserved.