CANADA STOCKS-TSX jumps on BOJ stimulus move; gold miners dive
* TSX up 159.75 points, or 1.1 percent, at 14,618.44 * Eight of 10 main index sectors advance * Gold miners slump to 13-year low By John Tilak TORONTO, Oct 31 (Reuters) - Canada's main stock index advanced on Friday after the Bank of Japan surprised markets by increasing stimulus measures, helping drive gains in most major sectors. The Japanese central bank expanded its massive stimulus spending in an admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April. The move fueled a surge in the U.S. dollar, sending the bullion price tumbling. Shares of gold miners dived yet again, slumping to their lowest in about 13 years. The benchmark TSX has been through a rough patch in recent weeks, hit by choppy commodity prices and worries about global growth. But with Friday's gains, the index has rebounded about 7 percent from an eight-month low it hit two weeks ago. "The BOJ has sparked this rally. It's given the market another boost," said John Ing, president of Maison Placements Canada. "The boost we're getting is very much a temporary jolt," he added. Ing expects choppy commodity prices to weigh on the resource-heavy TSX in the coming weeks. The Toronto Stock Exchange's S&P/TSX composite index was up 159.75 points, or 1.1 percent, at 14,618.44. Eight of the 10 main sectors on the index were higher. Financials, the index's most heavily weighted sector, climbed 1.5 percent. Toronto Dominion Bank added 1.6 percent to C$55.64, and Bank of Nova Scotia rose 1.4 percent to C$69.22. Shares of energy producers were up 0.8 percent, with Suncor Energy Inc gaining 1.5 percent to C$39.57. The gold-mining sector, gave back 2.7 percent, mirroring a drop in the bullion price. Barrick Gold Corp shed 2.1 percent to C$13.46, and Goldcorp Inc lost 0.8 percent to C$20.67. (Editing by James Dalgleish)
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