CANADA STOCKS-TSX rises on Draghi comments, U.S. data
* TSX up 77.03 points, or 0.6 pct, at 12,436.50 * All 10 sectors higher By Claire Sibonney TORONTO, Oct 4 (Reuters) - Canada's main stock index climbed on Thursday after U.S. data pointed to a slightly improving labor market and following encouraging comments by European Central Bank President Mario Draghi on tools to tackle the region's debt crisis. Commodity prices rallied broadly, sending resource shares higher after a poor performance in the previous session. Enbridge Inc rose 2 percent to C$40.18, Suncor Energy climbed 1.3 percent to C$33.18 and Goldcorp Inc added 1 percent to C$45.17. Lifting sentiment, Draghi said the ECB is ready to buy the bonds of euro zone member countries that ask for it, leaving the door open to a widely expected bailout of Spain. "Draghi has shown that he's someone you don't want to mess with and the market needs to understand that he's going to do whatever it takes to ensure that the euro survives," said Barry Schwartz vice president and portfolio manager at Baskin Financial Services. The euro zone is also considering aiding Spain by providing insurance for investors who buy government bonds in a move designed to maintain Spanish access to capital markets and minimize the cost to European taxpayers, European sources told Reuters. At 10:31 a.m. (1431 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 77.03 points, or 0.62 percent, to 12,436.50. All of the 10 sectors were in positive territory, inducing financials, up 0.6 percent. Also supporting equities, data showed that fewer than expected Americans filed new claims for unemployment benefits last week, suggesting a mild improvement in the labor market. "The data points that we're seeing out of the U.S. pretty much confirm that any chance of a recession happening is completely preposterous," said Schwartz. "Demand for autos, the increase in housing prices, the jobless claims, put all these things together and you get a scenario where you could have decent economic growth but I think the missing factor is you need confidence in the system."
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