CANADA STOCKS-TSX rises, but U.S. storm weighs on volumes

Tue Oct 30, 2012 11:53am EDT
 
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* TSX rises 69.19 points, or 0.56 pct, to 12,381.94

* Financial, energy stocks lead rally

* Traders assess impact of massive storm Sandy

By John Tilak

TORONTO, Oct 30 (Reuters) - Toronto's main stock index rose on Tuesday, led higher by financial and energy stocks on light volumes, as investors tried to assess the impact of super storm Sandy on the United States.

Sandy, one of the biggest storms to ever hit the country, left at least 15 people dead and caused significant power disruptions, though some market players had expected even more devastation.

The Canadian market felt the effect of the closure of U.S. stock markets for the second straight day, with trading volumes well below average.

"The disruption caused by the storm with the closure of the financial markets in the United States is having the major effect," said Gavin Graham, president of Graham Investment Strategy.

"Given how lackluster the trading is, how low the volumes are, people are very reluctant to take positions," he said.   Continued...