CANADA STOCKS-TSX hits 1-week high as investors assess Sandy hit

Tue Oct 30, 2012 5:01pm EDT
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* TSX rises 64.30 points, or 0.52 percent, to 12,377.05

* Materials lead rally, led by Yamana

* Relief among some investors storm damage wasn't worse

* Thin volumes as U.S. markets shut

By John Tilak

TORONTO, Oct 30 (Reuters) - Toronto's main stock index rose on Tuesday led by materials stocks, though volume was lighter than usual, as investors sought to gauge the impact of storm Sandy on the United States.

Sandy, one of the biggest storms to ever hit the country, left at least 30 people dead and caused significant power disruptions, though some market players had expected even more devastation.

"It's a pretty broad-based move," Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver, said of the market's rise. "It reflects some relief that the storm hasn't caused as much damage as people had expected."

After opening lower, the Toronto Stock Exchange's S&P/TSX composite index ended the day up 64.30 points, or 0.52 percent, at 12,377.05.   Continued...