CANADA STOCKS-TSX hits one-month high as gold miners bounce back

Tue Nov 11, 2014 4:33pm EST
 
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* TSX up 50.47 points, or 0.34 percent, at 14,760.27
    * Six of 10 main index sectors advance
    * Gold miners jump 4.2 percent

    By John Tilak
    TORONTO, Nov 11 (Reuters) - Canada's main stock index closed
up on Tuesday, hitting a one-month high, as the gold-mining
sector and the bullion price rebounded from a decline in the
previous session. 
    The benchmark TSX gained for a fifth straight session, with
increasing signs that volatility is declining. It has recovered
from a sharp pullback last month and is up about 8 percent since
hitting an eight-month low nearly four weeks ago.
    The energy sector has been the biggest drag on the Canadian
equity market in recent weeks, battered along with oil prices
over concerns about increasing supply and sluggish demand. The
group climbed after an initial drop.
    "Everyone's licking their wounds over the energy sector. We
could get a little more lift here between now and mid-December,"
said Douglas Davis, vice chairman at Davis-Rea.
    "Low volatility is a positive sign for the market," he
added. "It's better because people are feeling better, and
therefore the panic has come and gone."
    The Toronto Stock Exchange's S&P/TSX composite index
 closed up 50.47 points, or 0.34 percent, at 14,760.27.
Six of the 10 main sectors on the index were higher.
    Among shares of energy producers, Canadian Natural Resources
Ltd rose 1.4 percent to C$41.12, and Suncor Energy Inc
 was up 0.3 percent at C$39.29.
    The gold-mining sector soared 4.2 percent. Barrick Gold Corp
 added 2.4 percent to C$13.21, and Goldcorp Inc 
advanced 2.4 percent to C$22.21.

 (Editing by James Dalgleish)