CANADA STOCKS-TSX steady as resource-share dip offsets U.S. jobs data

Thu Jul 3, 2014 4:50pm EDT
 
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* TSX down 2.68 points, or 0.02 percent, at 15,207.11
    * Six of the 10 main index sectors decline
    * Gold miners slip with the price of bullion

    By John Tilak
    TORONTO, July 3 (Reuters) - Canada's main stock index was
little changed on Thursday as optimism spurred by a bullish U.S.
jobs report was balanced by declines in natural resource shares
on lower commodity prices. 
    Government figures showed a jump in U.S. employment growth
in June and a drop in the unemployment rate, suggesting the
world's biggest economy was on its way to overcoming a winter
slowdown. 
    "The U.S. employment situation is very strong. It's very
encouraging," said Marcus Xu, portfolio manager at MY Capital
Management Corp in Vancouver. "It's a lively economic
environment in the United States at the moment." 
    The Toronto Stock Exchange's S&P/TSX composite index
 closed down 2.68 points, or 0.02 percent, at
15,207.11. It rose as high as 15,256.36, a record, earlier in
the session. 
    The TSX is likely to have a strong second half, Xu said.
"Commodities are making a bit of a comeback." 
    Six of the 10 main sectors on the index were in the red on
Thursday.
    Financials, the index's most heavily weighted sector,
climbed 0.3 percent. Royal Bank of Canada added 0.1
percent to C$77.11, and Bank of Nova Scotia gained 0.5
percent to C$71.66.
    The energy sector was down 0.2 percent on lower oil prices,
with Suncor Energy Inc falling 0.9 percent to C$45.53
and Encana Corp shedding 1.1 percent to C$24.58.
    Gold-mining shares gave back 1.4 percent, reflecting
weakness in the price of bullion. Goldcorp Inc slipped
1.9 percent to C$29.19, and Barrick Gold Corp lost 1.2
percent to C$19.33. 
    ($1=$1.06 Canadian)

 (Editing by Dan Grebler; and Peter Galloway)