CANADA STOCKS-TSX posts fourth day of gains, materials rebound

* TSX rises 1.2 percent to end at 11,570.45

* Eight of 10 sectors advance, materials lead

* Canada’s economy posts near-record gain in June
(Updates to close)

TORONTO, July 9 (BestGrowthStock) – Toronto’s main stock index rose
more than 1 percent on Friday, rallying for a fourth straight
session, helped by confidence in the economy from stunning jobs
data, while firm resource prices helped materials lead all
sectors higher.

Materials were up 2.3 percent, rebounding from Thursday’s
selloff, as the price of gold moved back above $1,200 an ounce.
As well, copper prices advanced to their highest in nearly two
weeks on improving global demand signals. [GOL/] [MET/L]

Among key gainers No. 1 producer Barrick Gold Corp (ABX.TO: )
was up 1.42 percent at C$45.04, while diversified miner Teck
Resources (TCKb.TO: ) rose 3.37 percent to C$35.60.

Financials were also among the solid gainers, rising 1.37
percent on confidence in the domestic economy. Royal Bank of
Canada (RY.TO: ) was up 2.4 percent at C$54.37.

Data released early on Friday showed Canada’s economy
created six times more jobs than forecast in June to a
near-record gain. [ID:nN09261751]

But so-called defensive sectors such as utilities, up 1.75
percent, and consumer staples, up 0.92 percent, also posted
strong gains.

“I think you’re seeing what we’ve been seeing most of the
month, a little bit of rotation into more defensive sectors.
You’re seeing utilities fairly strong today, some consumer
goods companies (are) strong as well,” said Youssef Zohny,
associate portfolio manager at Van Arbor Asset Management.

“We could be seeing money away from cyclicals and more
towards non-cyclical companies. We’re stuck in a bit of a
twilight zone right now.”

Shoppers Drug Mart (SC.TO: ) was up 2.13 percent at C$35.89,
while power generation company TransAlta Corp (TA.TO: ) gained
2.3 percent to C$20.50.

The Toronto Stock Exchange’s S&P/TSX composite index
(.GSPTSE: ) climbed 137.08 points, or 1.2 percent, to end at
11,570.45. Eight of the index’s 10 main groups were up.

($1=$1.03 Canadian)
(Reporting by Ka Yan Ng; editing by Rob Wilson)

CANADA STOCKS-TSX posts fourth day of gains, materials rebound