CANADA STOCKS-TSX steady as gold miners' fall balances energy gains

Thu, 20 Mar - 12:54am
    * TSX flat at 14,370.12 points 
    * Investors eye Fed meeting, guidance expected 
    * Worries over Ukraine fade, hurting gold miners 
 
    By Alastair Sharp 
    TORONTO, March 19 (Reuters) - Canada's main stock index was 
unchanged on Wednesday as a sharp decline in several major 
gold-mining shares was neutralized by gains in Canadian Natural 
Resources    and other oil and gas stocks. 
    Investors were expecting the U.S. Federal Reserve to 
announce a further unwinding of its monetary stimulus program 
later in the session and were looking for new Fed chief Janet 
Yellen to offer some policy guidance when she addresses a news 
conference. 
    Barrick Gold Corp    fell 1.5 percent to C$22.21 and 
Goldcorp Inc    was off 0.8 percent at C$30.59, with the 
gold miners falling with bullion prices on a mixture of caution 
ahead of the Fed and an easing of anxiety over the Ukraine 
crisis. Worries about Ukraine have recently added to gold's 
safe-haven appeal. 
    "The Crimean situation has cooled down and nothing goes 
straight up forever, so gold is having a bit of a pause here," 
said John Kinsey, a portfolio manager at Caldwell Securities. 
    Investors have found comfort in energy stocks that have 
positioned themselves for a continuation of slow economic growth 
in a low interest rate environment. 
    "They have good production growth for the foreseeable future 
and they've also cut costs early, delayed some of their 
expansion projects and been buying back stock and some nice 
dividend increases," Kinsey said of Canadian Natural Resources, 
which was up 1.5 percent at C$41.17. 
    The Toronto Stock Exchange's S&P/TSX composite index 
   was flat at 14,369.29 points at midmorning. Six of its 
10 main sectors were in the red. 
    ($1=$1.12 Canadian) 
 
 (Reporting by Alastair Sharp; Editing by Peter Galloway) 
 ((alastair.sharp@reuters.com)(+1 416 941 8118)(Reuters 
Messaging: alastair.sharp.thomsonreuters.com@reuters.net)) 
  
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Keywords: MARKETS CANADA/STOCKS  
     
URN: 
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Topics: 
OILG STX CMPNY CA PREC MINE ENR MKTREP REP LEN RTRS MIN GDM BMAT MTAL EXPL ENER AMERS

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