CANADA STOCKS-TSX flat as energy gains on jobs data offset by gold

Sat, 08 Mar - 2:46am
    By Solarina Ho 
    TORONTO, March 7 (Reuters) - Toronto's main stock index was 
little changed on Friday, as gains in energy stocks following 
better-than-expected U.S. jobs data was offset by a drop in 
mining stocks as the price of gold fell. 
    U.S. jobs growth picked up sharply in February despite an 
unusually cold winter, with 175,000 new jobs created, while the 
Canadian economy lost 7,000 jobs. Sentiment in Canada is often 
influenced by news out of the United States, Canada's largest 
trading partner.      
    The Toronto Stock Exchange's S&P/TSX composite index 
   was up 9.9 points at 14,280.25. Seven of the indexes 
10 main groups were in positive territory. 
    "Our index has the barbell between financials and resources 
that makes our markets somewhat less volatile, in terms of 
what's going on," said Paul Hand, managing director at RBC 
Capital Markets. 
    Energy stocks were helped by stronger crude prices, which 
rose to $108 a barrel on supply concerns from the crisis in 
Ukraine and the U.S. jobs number.  O/R  
    Canadian Natural Resources    was up 1.9 percent at 
C$41.58, while Suncor Energy Inc    rose 1.2 percent to 
C$36.95. The overall group climbed 0.9 percent. 
    The materials group, comprised of mining stocks, offset much 
of the positive gains, with a 1.5 percent retreat, as gold and 
copper prices fell. 
    Goldcorp Inc    was off 1.8 percent at C$29.95, while 
Barrick Gold Corp    was down 1.6 percent at C$21.97. 
Base-metals miner First Quantum Minerals Ltd    led the 
decliners with a 4.1 percent drop to C$20.36 as copper hit a 
seven-month low on China growth worries.  MET/L  GOL/  
    Gold prices fell 1 percent as U.S. jobs data helped soothe 
fears of an abrupt slowdown in the world's biggest economy. 
 
 (Editing by Bernadette Baum) 
 ((solarina.ho@thomsonreuters.com)(1-416-941-8067)(Reuters 
Messaging: solarina.ho.thomsonreuters.com@reuters.net)) 
  
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Keywords: MARKETS CANADA/STOCKS  
     
URN: 
urn:newsml:reuters.com:20140307:nL1N0M41DA:3
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