TORONTO (Reuters) - Canada's main stock index rose on
Monday after shares of natural
resource companies benefited from positive data out of China, but declines
in the price of gold and oil capped those gains.
Still, a surge in shares of Potash Corp (POT.TO: Quote)
and BlackBerry (BB.TO:Quote) also supported the overall market.
But fears about military action in Syria and concerns
that the U.S. Federal Reserve might soon begin dialing back its stimulus
measures continued to unnerve investors.
"It's a muted rally. We really haven't got the lift
from the Chinese export news that one would have expected," said Elvis
Picardo, strategist at Global Securities in Vancouver. "There's too much
uncertainty for investors to jump into volatile groups like energy and
commodities."
"Investors are hoping that any fallout from the
(Syrian) conflict wouldn't be too severe and it would be contained."
Data showed Chinese export growth topped expectations in
August.
Despite the export-focused Canadian market's exposure to
the Chinese economy, a major consumer of commodities, the TSX underperformed
the S&P 500 .SPX on Monday.
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