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CANADA STOCKS-TSX's 7th straight rise extends 2016 high; resource stocks shine

Published 2016-03-04, 10:24 a/m
© Reuters.  CANADA STOCKS-TSX's 7th straight rise extends 2016 high; resource stocks shine
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(Adds details, updates prices)
* TSX rises 71.75 points, or 0.55 percent, to 13,195.40
* Six of the TSX's 10 main groups were higher

TORONTO, March 4 (Reuters) - Canada's main stock index
extended its record high for 2016 on Friday and was on track for
a 3 percent weekly gain as mining and energy stocks rose on
higher commodity prices and after data showing
stronger-than-expected U.S. jobs data and higher Canadian
exports.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 3 percent, while energy
stocks climbed 1.1 percent.
The most influential movers on the index included Barrick
Gold Corp ABX.TO , which gained 5.2 percent to C$19.61, and
Goldcorp Inc G.TO , up 8.2 percent to C$21.68.
The price of gold held near a 13-month high despite a surge
in U.S. employment that could further ease recession fears and
allow the U.S. Federal Reserve to gradually raise interest rates
this year. GOL/
Crude oil prices were slightly higher after a robust weekly
gain, while iron ore hit a 4-month high and copper was on track
for its best week since September. O/R MET/L
Canadian Natural Resources Ltd CNQ.TO rose 2.5 percent to
C$33.68 and Enbridge Inc ENB.TO added 0.9 percent to C$47.76.
At 10:03 a.m. EST (1503 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 71.75 points, or 0.55
percent, to 13,195.40.
The index is on track for its seventh straight winning
session. It pushed above 13,000 for the first time this year on
Wednesday.
Six of the index's 10 main groups were higher, while there
were five advancers for every two decliners.
Industrials rose 0.7 percent, while utilities and financials
were both up 0.2 percent.
Canada's trade deficit edged up to C$655 million ($489
million) in January from C$631 million in December as imports
grew slightly more than exports, Statistics Canada said.
Analysts in a Reuters poll had predicted a shortfall of
C$1.05 billion.

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