CANADA STOCKS-TSX gets boost as Greece hope lifts resources

Thu Mar 8, 2012 10:17am EST
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* TSX up 57.77 points, or 0.47 pct, at 12,407.93

* Nine of 10 sectors higher

* Bank of Canada holds rate, sees improved outlook

By Jennifer Kwan

TORONTO, March 8 (Reuters) - Toronto's main stock index rose on Thursday morning as commodity prices climbed on optimism that Greece would complete a critical private bond swap deal so that it can avoid a messy debt default.

Hope that Greece would get the deal done lifted prices for oil, copper, gold and other commodities along with commodity-linked currencies such as the Canadian dollar.

The Canadian currency's rally against the U.S. dollar on Thursday morning was also helped by a more upbeat outlook for the Canadian and global economies from the Bank of Canada, which nevertheless kept its key interest rate a low 1 percent, as anticipated.

Leaders on the Toronto index included Canadian Natural Resources Ltd, up 0.6 percent at C$35.34, after the independent oil explorer swung to a fourth-quarter profit and raised its dividend. Suncor Energy rose nearly 1 percent to C$34.04.   Continued...