* TSX up 16.01 points, or 0.11 percent, at 14,225.60 * Oil and gold shares rise with commodity prices By Leah Schnurr TORONTO, March 3 (Reuters) - Canada's main stock index firmed slightly on Monday as resource shares piggybacked higher on rising oil and gold prices in reaction to heightening tension between Russia and Ukraine.
Ukraine said Russia was gathering armored vehicles on its side of a narrow stretch of water closest to Crimea after Russian President Vladimir Putin declared over the weekend that Russia had the right to invade his neighbor to protect Russian interests and citizens.
Materials and energy sectors led the way higher on the Toronto Stock Exchange. A search for safety in tense times pushed gold prices higher, and crude was up nearly $2 a barrel at $104.45 as investors worried over the impact the Ukraine crisis would have on oil supplies. Russia is one of the world's biggest oil producers.
"The only thing that's holding us in here is oil at $104.50," said Paul Taylor, investment strategist for BMO Harris Private Banking in Toronto.
"It's definitely a risk-off day," he said.
Among the day's gainers, Suncor Energy rose 1.2 percent to C$36.97, while Barrick Gold gained 2.3 percent to C$23.07.
The Toronto Stock Exchange's S&P/TSX composite index was up 16.01 points, or 0.11 percent, at 14,225.60.
Shares of Goldcorp jumped after Osisko Mining said it agreed to settle its lawsuit against Goldcorp and would allow Goldcorp to conduct due diligence in connection with its hostile takeover bid for Osisko.
Goldcorp gained 3.3 percent to C$30.76, while Osisko climbed 6.1 percent to C$7.48.
Magna International rose 2.1 percent to C$100.62 after the auto parts supplier reported a higher quarterly profit and raised its dividend.
- Commodity Markets
- Toronto Stock Exchange
- gold prices