Canadian stock market rises over energy and gold rally

Toronto Stock Exchange, Canada's main stock market, rebounded Wednesday as the rally in energy and gold shares offset the negative impact of the revised U.S. economic data for the first quarter.
The benchmark S&P/TSX Composite Index of the bourse added 12.28 points, or 0.08 percent, to 14,974.65 points on the closing bell, following an almost one percent decline Monday.
The market sentiment was weighed in the midday trading as the U. S. economy shrank at an annual rate of 2.9 percent in the first quarter, the worst performance in five years, according to the third estimate released by the Commerce Department Wednesday.
Analysts believed the data may be negative to Canada's economy, especially the exports to the U.S.
But the Canadian stock market regained rising momentum as the chaos in Iraq helped push up the energy and gold prices, and also lift the energy and gold shares.
The energy sector was up 0.17 percent. Canadian Natural Resources Ltd. was up 0.63 percent to 48.25 Canadian dollars ( about 44.87 U.S. dollars), and Suncor Energy Inc. advanced 0.27 percent to 44.70 Canadian dollars.
S&P/TSX Global Gold Index moved up 0.54 percent after diving 2. 77 percent Monday. Most of the leading companies were in the green again, with Barrick Gold Corp. up 0.16 percent to 19.07 Canadian dollars a share and Yamana Gold Inc. rising 1.37 percent to 8.89 Canadian dollars.
The health care sector, however, logged the biggest gain by 1. 16 percent among the eight most weighed sectors in TSX. The drug maker Valeant jumped 4.27 percent to 134.93 Canadian dollars and Extendicare Inc. increased 0.27 percent to 7.41 Canadian dollars.
The mining sector lost 1.56 percent, leading the losers, with Teck Resources Ltd. shrinking 1.29 percent to 23.63 Canadian dollars per share, and First Quantum Minerals Ltd. down 0.09 percent to 22.10 Canadian dollars.
Canada's traditional sector Industrials ticked up 0.31 percent after the country's Bombardier Inc. announced Wednesday that it has received certification from the U.S. Federal Aviation Administration (FAA) for its Challenger 350 business aircraft. The aircraft and railway maker moved up 0.26 percent to 3.81 Canadian dollars a share.
On the currency front, the Canadian dollar Wednesday climbed to 0.9327 U.S. dollar from 0.9308 U.S. dollar Tuesday.