CANADA STOCKS-TSX steady as commodities gain with Ukraine tensions

    * TSX up 3.15 points, or 0.02 percent, at 14,212.74 
    * Six of 10 main index sectors decline 
    * Osisko jumps after miner agrees to settle lawsuit with 
Goldcorp 
    * Magna gains after quarterly report 
 
    By John Tilak and Leah Schnurr 
    TORONTO, March 3 (Reuters) - Canada's main stock index was 
little changed in choppy trade on Monday as worries about 
increasing instability in Ukraine were overcome by shares of 
natural resource producers benefiting from stronger commodity 
prices. 
    Ukraine said Russia's military presence in Crimea was 
growing, and U.S. President Barack Obama called Russia's actions 
a violation of international law and of Ukraine's sovereignty. 
   
    Volatility jumped as the geopolitical tensions took center 
stage. The S&P/TSX VIX index   , considered the market's 
fear gauge, shot up nearly 13 percent. 
    While global equity markets were hit by those concerns, the 
resource-sensitive Canadian index was insulated a little as 
investors found safe havens in commodities such as gold and oil. 
    Investors did not appear to be bracing for a worst-case 
scenario, at least not yet. 
    "Overall investors are disconcerted, but there is very 
little panic," said Elvis Picardo, a strategist at Global 
Securities in Vancouver.  "As bad as the Ukraine situation is, 
it is still being seen as something that is isolated to a part 
of Europe." 
    "If there's an outright war, and the situation really 
deteriorates, then suddenly you have concerns about global 
growth," he added. "That would really not be a good thing for 
the TSX." 
    The Toronto Stock Exchange's S&P/TSX composite index 
   closed up 3.15 points, or 0.02 percent, at 14,212.74. 
Six of the 10 main sectors on the index were in the red. 
    The price of U.S. crude oil    shot up 2.1 percent on 
supply worries, given Russia is a major oil producer. Shares of 
energy producers gained, with Canadian Natural Resources Ltd 
   adding 0.8 percent to C$40.83.  
    Gold-mining shares advanced 1.7 percent, reflecting a 2.2 
percent jump in the bullion. 
    In corporate news, Osisko Mining    said it agreed to 
settle its lawsuit against Goldcorp and would allow Goldcorp to 
conduct due diligence in connection with its hostile takeover 
bid for Osisko.    
    Goldcorp Inc    was up 1.9 percent at C$30.32. Osisko 
climbed 6.4 percent to C$7.50 and was the biggest percentage 
gainer on the index.  
    Magna International    rose 5.3 percent to C$103.75 
after the auto parts supplier reported a higher quarterly profit 
and raised its dividend.    
    ($1=$1.11 Canadian)  
     
 
 (Editing by Peter Galloway) 
 ((leah.schnurr@thomsonreuters.com)(+1 416 941 8103)(Reuters 
Messaging: leah.schnurr.thomsonreuters.com@reuters.net)) 
 

 
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