CANADA STOCKS-TSX climbs as energy, gold shares advance

Tue Dec 9, 2014 4:41pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX down 51.56 points, or 0.36 percent, at 14,195.73

* Seven of 10 main index sectors decline

* Talisman jumps after confirming interest from suitors

* AGF tumbles after dividend cut

By John Tilak

TORONTO, Dec 9 (Reuters) - Canada's main stock index rose in choppy trading on Tuesday, recovering slightly from a sharp selloff in the previous session as higher commodity prices boosted shares of energy and gold producers.

Oil prices rose after earlier tumbling to a five-year low, weighed by fears of increasing supply and sluggish demand, and have lost about 40 percent since June.

Shares of energy companies, which dropped nearly 7 percent in the previous session, rebounded slightly. A weaker U.S. dollar led to a surge in the price of bullion, helping drive up shares of gold miners.

Investors should brace for more choppiness in both equities and commodities, but look to selectively acquire assets at discount prices, said Adrian Mastracci, portfolio manager at KCM Wealth Management.   Continued...