CANADA STOCKS-TSX rises, gold miners lead on higher prices

Mon Feb 1, 2010 10:47am EST
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* TSX up 1.31 percent at 11,240.16

* Golds help push up materials group

* U.S. manufacturing sector grows more than expected (Adds details)

By Ka Yan Ng

TORONTO, Feb 1 (Reuters) - Toronto's main stock market index rose across the board on Monday morning with some heavyweight resource groups leading the way on rising commodity prices.

The price of gold extended gains towards $1,090 an ounce, while oil stabilized around $73 a barrel, prompting sharp gains in the index's energy and materials groups, which rose 1.6 percent and 3 percent, respectively.

Barrick Gold (ABX.TO: Quote) led all heavyweight gainers, rising 3.1 percent to C$38.27, while Canadian Natural Resources (CNQ.TO: Quote) climbed 1.4 percent to C$69.21. Goldcorp (G.TO: Quote) was up 2.9 percent at C$37.28.

"Gold has been very oversold in the month of January so we're getting a bounce today," said John Ing, president of Maison Placements Canada.

At 10:23 a.m. (1523 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 145.85 points, or 1.31 percent, at 11,240.16. All of its 10 main groups were higher.   Continued...