CANADA STOCKS-Europe's bond-buying plan boosts key Canada index
* TSX jumps 111.19 points, or 0.93 percent, to 12,101.33 * ECB bond-buying helps Canada index hit one-week high * Miners, oil and gas companies lead rise By Alastair Sharp TORONTO, Sept 6 (Reuters) - Canada's main stock index jumped nearly 1 percent on Thursday, buoyed by commodity stocks, after Europe's central bank agreed to launch a potentially unlimited bond-buying program in a bid to draw a line under the region's debt crisis. Signs that European growth could get back on track provided a fillip to Canada's deep lineup of mining and oil and gas companies that are acutely sensitive to global demand. The European Central Bank's president, Mario Draghi, sought to back up a July pledge to do whatever it takes to preserve the euro with the plan which he said would address bond market distortions and "unfounded" fears about the survival of the euro. "It's clearly a positive for this market - the Toronto market is a risk-on market, a commodity-weighted market - because we will not be able to get clarity on commodities if Europe is mired in recession and political stalemate," said John Stephenson, senior vice-president at First Asset Investment Management Inc. By 10:05 a.m. (1405 GMT), the Toronto Stock Exchange's S&P/TSX composite index had gained 111.19 points, or 0.93 percent, to 12,101.33, a one-week high. All ten major sectors rose. Commodities were broadly higher, with oil and gold both notching gains. Canadian Natural Resources jumped 3.1 percent to C$30.26 and Suncor Energy gained 1.6 percent to C$31.84, accounting for the two biggest positive influences. Shawcor soared 20.5 percent to C$42.26 after saying it was for sale. The energy services company is expected to attract interest from both strategic buyers and private equity players, given strong demand for its pipeline coating and other specialty businesses with dominant market positions. Major Drilling Group International Inc jumped 9.5 percent to C$10.00 after reporting record quarterly earnings and saying that demand services remains strong. Encana Corp gained 1.9 percent after the natural gas producer said an internal investigation determined it did not collude with Chesapeake Energy Corp to lower the price of land acquisitions in Michigan two years ago. Base metals miner Inmet Mining Corp gained 1.6 percent. It said it plans to expand its footprint in Panama with an offer to acquire Petaquilla Minerals Ltd for about C$112 million.
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