CANADA STOCKS-TSX ends a touch higher after seesaw day

* TSX edges up 0.06 percent to 12,211.52

* UPS results lift transport shares; CN Rail up 1.8 pct

* Data points to slow U.S. recovery
(Updates to close)

TORONTO, April 15 (BestGrowthStock) – Toronto’s main stock index
finished a touch higher on Thursday after a seesaw session as
mixed economic news offset the influence of strong earnings
from UPS in the United States.

Upbeat results and a strong profit forecast from United
Parcel Service (UPS.N: ) late on Wednesday helped boost overall
sentiment as it was the latest in a string of major U.S.
companies to report solid earnings.

The UPS results helped lift transportation shares,
including Canadian National Railway (CNR.TO: ), which jumped 1.79
percent to C$63.53. Canadian Pacific Railway (CP.TO: ) was up
0.65 percent at C$59.02.

Ian Nakamoto, director of research at MacDougall,
MacDougall and MacTier said the results from economic
bellwether UPS were well received in Canada.

“That’s confirmation also that the global economy is on the
mend. It hasn’t fully healed, but it’s certainly on the mend,”
he said.

On the economic front, U.S. data pointed to a relatively
slow economic recovery. Figures showed U.S. manufacturers
ramped up production to rebuild inventories in April but weekly
labor numbers remained soft. [ID:nN15325702]

But China reported economic growth accelerated in the first
quarter to 11.9 percent, the fastest annual pace in nearly
three years. [ID:nTOE63D091]

The Toronto Stock Exchange’s S&P/TSX composite index
(.GSPTSE: ) ended higher for a second straight session, up 7.11
points, or 0.06 percent, at 12,211.52. The index opened in
negative territory but quickly turned higher, rising to a near
19-month high, then paring most of the gains.

“We’ve been all over the the map on the TSX and it looks
like we’re back to square one,” said Elvis Picardo, an analyst
and strategist at Global Securities in Vancouver.

But Picardo said the sentiment overall was positive as the
likelihood of a double-dip recession has receded markedly, and
upcoming earnings reports are likely to confirm the extent and
scope of the recovery.

Weakening oil prices also cut into the overall index’s
gains on Thursday, with the energy group falling 0.35 percent.
Suncor Energy (SU.TO: ) dropped 0.8 percent to C$34.81, while
Husky Energy (HSE.TO: ) fell 2.32 percent to C$29.43.

Materials also reversed early strength, down 0.25 percent,
as metal prices had a mixed day, with gold on the rise, but
copper lower.

Barrick Gold Corp (ABX.TO: ), the world’s biggest gold
producer, slipped 1.28 percent to C$40.14, while Hudbay
Minerals (HBM.TO: ) jumped 4.32 percent to C$14.25.

Nakamoto said the direction of the TSX index will now
depend on major company earnings, which start rolling in next
week.

“I think there’s a bit of nervousness to see how they
report and, more importantly, what they say about the future.”

Investment Advice

($1=$1.00 Canadian)
(Reporting by Ka Yan Ng; editing by Peter Galloway)

CANADA STOCKS-TSX ends a touch higher after seesaw day