April 9, 2013 / 3:19 PM / 6 years ago

CANADA STOCKS-Resources drive TSX gains on upbeat China data

* TSX rises 90.14 points, or 0.73 percent, to 12,434.70
    * Nine of 10 main sectors advance
    * Gold shares jump 3 percent

    By John Tilak
    TORONTO, April 9 (Reuters) - Canada's main stock index
climbed on Tuesday, led by broad gains in the material, energy
and financial sectors on positive economic data from China. 
    China's annual consumer inflation cooled in March as food
prices eased from nine-month highs and producer price deflation
    The data lifted commodity prices and put the resource-heavy
Toronto market, which is sensitive to developments in China, in
positive territory for the second straight day after a five-day
losing streak in which it lost 3.3 percent. 
    "It's a positive for asset markets," said Fergal Smith,
managing market strategist at Action Economics. "It gives
Chinese policymakers added room for stimulus."
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 90.14 points, or 0.73 percent, at 12,434.70.
Nine of the 10 main sectors on the index were higher.
    The materials sector, which includes mining stocks, advanced
2.4 percent. 
    The benchmark Canadian index has badly lagged the record
rallies of its U.S. peers and is barely up on the year.
    The price of bullion rose 0.8 percent on the Chinese data
and buoyed gold stocks, which jumped 3 percent.
    Barrick Gold Corp climbed 2.6 percent to C$27.46,
and Goldcorp Inc added 3 percent to C$32.87, playing the
biggest role of any two stocks in leading the market higher.
    Energy shares were up 0.6 percent, with Suncor Energy Inc
 rising 1.2 percent to C$29.30. 
    Financials, the index's weightiest sector, gained 0.9
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