November 12, 2012 / 3:32 PM / 6 years ago

CANADA STOCKS-Strong Chinese data helps TSX advance

* TSX up 21.01 points, or 0.17 pct, at 12,217.81
    * Nine of 10 sectors positive; materials slip

    By Claire Sibonney
    TORONTO, Nov 12 (Reuters) - Canada's main stock index rose
modestly on Monday as encouraging Chinese economic data helped
to offset concerns about the possibility of a fiscal crisis in
the United States and a delay in aid for Greece.
    Data showed Chinese exports picked up sharply in October,
signaling the giant economy was gathering strength, which
reassured markets about the strength of demand from the world's
top resource consumer and helped to push up energy and
base-metal mining shares. 
    "My expectation is that we will get a steady round of
positive news from China, which will help out the commodities,"
said John Ing, president of Maison Placements Canada.
     Among heavyweight gainers, miner First Quantum Minerals
 jumped 1.1 percent to C$22.45, while Suncor Energy
 edged up 0.2 percent to C$33.32.
    With U.S. and Canadian bond markets closed for the Veterans
Day and Remembrance Day holidays, activity on the Toronto Stock
Exchange was light and was expected to remain so through the
    At 10:08 a.m. (1408 GMT), the exchange's S&P/TSX composite
index was up 21.01 points, or 0.17 percent, at
12,217.81. Nine of its 10 sectors were firmer. The materials
group was down 0.2 percent as gold miners weighed.
    Financials, up 0.3 percent, were among the most influential
names on the upside. 
    Toronto-Dominion Bank rose 0.6 percent to C$80.54
and Bank of Nova Scotia was up 0.6 percent to C$54.10.
    Market gains were likely to be limited by U.S. "fiscal
cliff" concerns, and as euro zone finance ministers gathered in
Brussels to discuss the Greek bailout program.
    The euro zone will not release a new loan tranche to Greece
despite the country's tough 2013 budget as there is no agreement
yet on how to make its debt sustainable, but Athens is set to
get two more years to cut debt, officials said. 
    In individual company news, Research In Motion rose
2.9 percent to C$8.81 after announcing it planned to introduce
its long-delayed BlackBerry 10 platform and devices on Jan. 30.
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