Commodities power Toronto stocks to record close

By Wojtek Dabrowski

TORONTO (Reuters) - The Toronto Stock Exchange's main index hit another record high on Friday as energy and materials shares rose on strong commodity prices and powered the composite to a level just shy of the 15,000 mark.

The S&P/TSX composite index rose 156.14 points, or 1.05 percent, to close at 14,984.20, giving it a gain of 3.2 percent for the week. Last Friday, it closed at 14,521.19.

Even though seven of the benchmark's 10 main groups ended lower, the heavyweight energy and materials sectors surged higher, gaining 2.94 percent and 1.79 percent, respectively.

The advances came as U.S. crude oil futures rose sharply to settle above $126 per barrel for the first time and U.S. gold futures ended 2.3 percent higher at just below $900 an ounce.

"Today was just one of those days when the commodities ... had a very good day," said John Kinsey, portfolio manager at Caldwell Securities Ltd.

The S&P/TSX 60 index of Canadian bluechips rose 10.69 points, or 1.21 percent, to 895.42.

The commodity strength gave a lift to energy companies like Canadian Natural Resources (CNQ.TO: Quote), which added C$3.61, or 3.7 percent, to finish at C$101.86. Husky Energy (HSE.TO: Quote) rose C$2.32, or 4.7 percent, to close at C$51.94.

Among gold firms, Royal Gold Inc RGL.TO rose C$2.24, or 7.8 percent, to end at C$30.99. Barrick Gold (ABX.TO: Quote) rose C$1.13, or 2.9 percent, to C$40.18.