CANADA STOCKS-TSX surges as U.S. data spurs optimism

Mon Feb 1, 2010 5:05pm EST
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 * TSX up 218.30 points, or 1.97 percent, at 11,312.61
 * Biggest one-day percent gain since early December
 * Growth in U.S. manufacturing sector helps spur rise
 (Adds details)
 By Jennifer Kwan
 TORONTO, Feb 1 (Reuters) - Toronto's main stock market
index rose sharply on Monday, starting February on a solid
footing as U.S. manufacturing data helped fuel optimism about
economic recovery.
 Suncor Energy Inc (SU.TO: Quote) led all heavyweight gainers,
climbing 3.2 percent to C$34.84, while Barrick Gold (ABX.TO: Quote)
rose 4.5 percent to C$38.80. Potash Corp of Saskatchewan Inc
(POT.TO: Quote) rose 3.9 percent to C$110.07, and Goldcorp (G.TO: Quote) was
up 4.1 percent at C$37.71.
 The index rose as U.S. factory data provided further
evidence of economic recovery. The U.S. manufacturing sector
grew more than expected in January, and added to strong factory
figures from China, Australia and the euro zone. [ID:nWEN9407]
 "We've got off to a good start on the back of manufacturing
report from three major regions that showed the global recovery
is pretty well positioned. That's really helped the big
turnaround in sentiment today," said Elvis Picardo, analyst and
strategist at Global Securities in Vancouver.
  The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE finished the day up 218.30 points, or 1.97 percent,
at 11,312.61, its biggest one-day percentage gain since Dec. 1.
All of its 10 main groups were higher.
 The manufacturing data helped to lift the price of oil,
which rose above $74 a barrel. [O/R] The price of gold was also
higher. [GOL/]
 The strength in commodity prices helped to give Toronto
stocks a bigger boost than U.S. stocks, which also got a boost
from the manufacturing figures and from Exxon Mobil earnings.
 Toronto's energy sector  climbed 2.5 percent,
while its mining-heavy materials group  gained 4.8
 The blue chip S&P/TSX 60 index .TSE60 closed 12.69
points, or 1.96 percent, higher at 661.22.
  ($1=$1.06 Canadian)
 (Reporting by Jennifer Kwan; editing by Peter Galloway)