CANADA STOCKS-TSX gains as commodities rally; RIM dives
* TSX gains 0.9 percent to 12,151.06
* Energy, materials lead index higher
* RIM dives 8 percent after results (Adds details)
By Claire Sibonney
TORONTO, April 1 (Reuters) - Toronto's main stock index shot higher on Thursday as upbeat economic data prompted fresh fund flows into commodities at the start of the quarter, but a steep slide by Research In Motion RIM.TO tempered the gains.
The TSX's energy group rose more than 3 percent as oil hit an 18-month high. Suncor Energy Inc (SU.TO: Quote), Canada's biggest oil company, jumped 3.9 percent to C$34.32, while Canadian Natural Resources (CNQ.TO: Quote) surged more than 4 percent to C$78.23. [O/R]
Commodity prices got a boost as factories in the United States, Europe and Asia cranked up production last month, suggesting recovery from a deep recession was taking root in economies around the globe. [ID:nSGE630021]
"The single biggest driver today is definitely coming from the economic data," said Youssef Zohny , associate portfolio manager at Van Arbor Asset Management in Vancouver.
"We are seeing inventory rebuilding and that bodes well for material and energy companies," Zohny said. Continued...