January 13, 2010 / 10:12 PM / 8 years ago

CANADA STOCKS-TSX ends modestly higher after choppy session

 * TSX ends up 0.28 percent, at 11,853.56
 * Seven sectors advance, none dominant
 (Adds details)
 TORONTO, Jan 13 (Reuters) - Toronto's main stock index
pushed higher on Wednesday after two days of losses as a
recovery in gold prices and evidence of a mending economy in
the United States offset weak oil prices.
 The index had a choppy morning session as investors
continued to worry that China's moves to tighten monetary
policy could cut demand for key commodities such as oil and
 Seven of the TSX's 10 main sectors advanced as the Federal
Reserve said U.S. economic activity remained at a low level as
2010 begun but was improving modestly and beginning to broaden
out to include wider swaths of the country. [ID:nFEDAHEAD]
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed up 33.38 points, or 0.28 percent, at
 No single sector dominated on Wednesday as a mixed bag of
individual stocks were found among the key movers. Shares of
BlackBerry maker Research In Motion RIM.TO topped key
advancers, up 2.5 percent at C$67.38, while oil producer EnCana
ECA.TO rose 2.1 percent to C$36.32. Royal Bank of Canada
RY.TO rose 0.6 percent to C$55.70.
 On the downside, pipeline company TransCanada TRP.TO fell
1.55 percent to C$34.97, while Canadian National Railway
CNR.TO dropped 1.3 percent to C$56.91. Autoparts giant Magna
International MGa.TO sagged 4.68 percent to C$59.47, while
Suncor Energy SU.TO fell 0.5 percent to C$37.68.
 Gold prices rose in volatile trade as a lower U.S. dollar
prompted physical buying and short covering after the previous
session's sharp losses. That helped to lift some gold
producers, including Iamgold IMG.TO, up 2.88 percent at
C$17.49. [GOL/]
 The price of oil settled below $80 a barrel, pressured by a
U.S. inventory report showing rises in crude and distillate
fuel stocks, despite severe winter weather. [O/R]
 "I think we're seeing some weakness in some
commodity-related areas but it's this mixed market that has
lead to a small gain in the TSX," said Kate Warne, Canadian
market strategist at Edward Jones in St. Louis, Missouri.
 (Reporting by Ka Yan Ng; editing by Rob Wilson)

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