CANADA STOCKS-TSX steady as gold miners jump, energy shares slip

Tue Jan 20, 2015 4:37pm EST
 
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* TSX down 4.06 points, or 0.03 percent, at 14,308.44

* Seven of 10 main index sectors decline

* Gold miners jump with bullion price

By John Tilak

TORONTO, Jan 20 (Reuters) - Canada's main stock index was little changed on Tuesday, with a rally in the gold-mining sector offset by weakness in energy shares, as investors digested economic data from China and a global growth forecast from the International Monetary Fund.

The Chinese economy grew at its slowest pace in 24 years in 2014, but fourth-quarter growth held steady at 7.3 percent, slightly stronger than had been expected.

Investors also digested a report in which the International Monetary Fund lowered its global growth projections and said central banks should favor accommodative monetary policies.

The market is expecting the European Central Bank to announce stimulative measures on Thursday.

The benchmark TSX has shed 2.2 percent this year, with a selloff in oil prices and energy shares holding back the index.   Continued...