CANADA STOCKS-TSX hits two-week high after Yellen comments

    * TSX rises 67.22 points, or 0.49 percent, to 13,861.40 
    * Nine of the 10 main index sectors advance 
    * BlackBerry falls after BBM executive leaves 
 
    By John Tilak 
    TORONTO, Feb 11 (Reuters) - Canada's main stock index hit a 
two-week high on Tuesday after U.S. Federal Reserve Chair Janet 
Yellen confirmed the process of winding down the Fed's stimulus 
program was on track. 
    Yellen, in her first public remarks as Fed chair, noted that 
the U.S. labor market recovery was "far from complete" and said 
there was a need to keep an eye on a broad range of labor market 
indicators, but in comments soothing to markets she stressed 
continuity with the policies of her predecessor, Ben Bernanke. 
   
    The benchmark Canadian index was up for a sixth straight 
session, and appeared to be showing signs of stabilizing after a 
volatile phase triggered by turmoil in emerging markets. 
    "There seems to be a certain amount of calm," said Michael 
Newton, a director of wealth management and portfolio manager at 
ScotiaMcLeod.  
    "People are looking across the next couple of months and 
realizing there's not a single identifiable macro event that 
they see on the horizon," he said. "There's a sense of 
complacency or an 'all clear' for the foreseeable future."  
    Investors were warming up to the new Fed chair, Newton 
added. "With Yellen, sentiment has quickly changed, with the 
realization that she is supportive of the markets and supportive 
of keeping rates low." 
    The Toronto Stock Exchange's S&P/TSX composite index 
   was up 67.22 points, or 0.49 percent, at 13,861.40 
after rising as high as 13,886. 
    The index has outperformed the S&P 500    so far this 
year but Newton expects Canadian equities to trail the U.S. 
stock market in 2014 because of the uncertainty surrounding 
growth in China, a major market for Canadian commodities. 
    Nine of the 10 main sectors on the index were higher on 
Tuesday. 
    Financials, the index's most heavily weighted sector, added 
0.5 percent. Royal Bank of Canada    rose 0.6 percent to 
C$70.38, and Bank of Nova Scotia    climbed 0.9 percent to 
C$62.29. 
    Energy shares advanced 0.5 percent, with the sector the 
receiving some support from a gain in the price of Brent crude 
oil. In the group, Canadian Natural Resources Ltd    
climbed 0.9 percent to C$37.71. 
    Shares of gold-mining companies surged 2 percent, a 
reflection of a jump in the price of bullion.  GOL/  Goldcorp 
Inc    was up 2 percent, at C$29.32. 
    In corporate news, BlackBerry Ltd    said on Monday 
that Andrew Bocking, the executive in charge of its BBM instant 
messaging business, has left the company. The stock was down 1.7 
percent at C$10.73 on Tuesday. 
    ($1=$1.10 Canadian) 
 
 (Editing by Peter Galloway) 
 ((john.tilak@thomsonreuters.com)(1-416-687-7918)(Reuters 
Messaging: john.tilak.reuters.com@reuters.net)) 
  
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