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* TSX ends up 21.25 points, or 0.14 percent, at 15,629.75
* Six of the TSX's 10 main groups rise
By Fergal Smith
TORONTO, March 6 Canada's benchmark stock index
edged up on Monday to its highest close in 11 days as financial
and energy shares climbed, while mining stocks weighed as lower
Chinese economic growth targets contributed to a softening in
prices for metals.
China, which is copper's biggest consumer, cut its growth
target this year as the world's second-largest economy pushes
through painful reforms to address a rapid build-up in debt and
erects a "firewall" against financial risks. Copper prices fell
to a more than one-week low.
"The base materials after a pretty healthy upside move are
starting to digest that little change in economic projection out
of China and clearly material stocks don't like the threat of a
higher interest rate environment," said Matt Skipp, president of
SW8 Asset Management.
Gold fell for the third straight session, pressured by
comments from Federal Reserve Chair Janet Yellen that reinforced
expectations of an increase in U.S. interest rates this month.
Losses for base metal miners came as the Prospectors and
Developers Association of Canada's conference took place.
"When there are 30,000 global mining investors all in
Toronto having a few cocktails and meeting with companies it
basically removes the buyers from the marketplace temporarily,"
First Quantum Minerals fell 2.9 percent to C$14.82
and Teck Resources Ltd declined 2.5 percent to
C$26.63, while the materials group, which includes miners and
fertilizer companies, lost 1.9 percent.
The Toronto Stock Exchange's S&P/TSX composite index
closed up 21.25 points, or 0.14 percent, at 15,629.75,
its highest close since Feb. 23.
The index has gained 2.2 percent this year after climbing
17.5 percent in 2016. In February, it posted a record high of
Six of the index's 10 main groups ended in positive
territory, with financials gaining 0.5 percent and energy
climbing 0.8 percent even as oil prices fell.
U.S. crude prices settled 13 cents lower at $53.20 a
barrel after the International Energy Agency forecast potential
shale oil growth and waning European refined product demand.
Northland Power Inc rose 4.6 percent to C$24.79.
The utility said on Friday it had agreed to buy a 252 MW German
offshore wind farm.
Valeant Pharmaceuticals International Inc extended
recent losses, falling 4.7 percent to C$16.66. The company plans
to line up a $3.06 bln incremental term loan as part of a debt
restructuring, sources said.
(Additional reporting by Alastair Sharp Editing by W Simon and