CANADA STOCKS-TSX edges up in choppy trade on mixed US data

*TSX up 42.45 points at 11,678.30

*Resources lead index higher
(Updates with details, adds quotes)

By Claire Sibonney

TORONTO, June 11 (BestGrowthStock) – Toronto’s main stock index
edged higher on Friday on the back of rebounding commodity
prices but trading was volatile following mixed U.S. economic
data.

Sales at U.S. retailers fell unexpectedly in May, the first
drop since September, on a record decline in purchases of
building materials, adding to fears that the economic recovery
is losing some steam. [ID:nN11114277]

U.S. consumer sentiment, however, improved in early June to
its strongest level in nearly 2-1/2 years, bolstered by hopes
of better job and credit conditions. [ID:nN11121462]

Firm copper prices boosted the Toronto index’s base-metal
miners 1.2 percent. Teck Resources (TCKb.TO: ) jumped 2.1 percent
to C$34.91, and First Quantum Minerals (FM.TO: ) added 0.1
percent to C$55.50.

“You saw fairly weak retail sales out of the U.S. It was
surprising to see the market come off and then bounce right
back up,” said Youssef Zohny, associate portfolio manager at
Van Arbor Asset Management in Vancouver.

“A lot of the commodities and commodity stocks got a bit
oversold with some economic concerns out of Europe, but it
seems like Asia is helping support the commodity space at the
moment,” he added.

Official data on Thursday showed Chinese exports surged
48.5 percent in May from a year earlier, well above forecasts
for a 32 percent gain. [ID:nTOE65901X]

As well, oil prices climbed from earlier losses, sending
the energy sector up 0.7 percent as Suncor Energy (SU.TO: ) shot
up 1.6 percent to C$33.92, and EnCana Corp (ECA.TO: ) jumped 1.4
percent to C$34.88. [O/R]

Gold extended gains as the weak U.S. retail sales brought
risk aversion back to the market, pushing the index’s
gold-mining subsector up 0.6 percent. [GOL/] [ID:nN11114277]

Barrick Gold Corp (ABX.TO: ) rose 0.7 percent to C$44.54,
while Goldcorp (G.TO: ) edged 0.1 percent higher to C$45.28.

At 10:36 a.m. (1436 GMT), the Toronto Stock Exchange’s
S&P/TSX composite index (.GSPTSE: ) was up 42.45 points, or 0.36
percent, at 11,678.30, after opening in the red.

“I think uncertainty is probably the key takeaway … so it
should be a volatile day,” Zohny said.

Stocks

($1=$1.03 Canadian)
(Reporting by Claire Sibonney; Editing by Peter Galloway)

CANADA STOCKS-TSX edges up in choppy trade on mixed US data