CANADA STOCKS-TSX climbs as U.S. earnings, data boost mood

Tue Feb 2, 2010 4:30pm EST
 
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* TSX ends up 90.79 points, or 0.8 pct, at 11,408.34

* Miners gain on firm base metals prices (Updates to close, adds quote)

TORONTO Feb 2 (Reuters) - Toronto's main stock index rose for a second straight session on Tuesday as U.S. corporate results and economic data boosted optimism about recovery.

Royal Bank of Canada (RY.TO: Quote) led the heavyweight gainers, rising 1.9 percent to C$53.80, while Canadian Natural Resources (CNQ.TO: Quote) gained 2.5 percent to C$70.71. Research In Motion RIM.TO helped support the move higher, climbing 2.2 percent to C$69.55.

"Equity markets are up globally. The risk trade has come back on," said John Johnston, chief strategist for Harbour Group at RBC Dominion Securities.

Investor sentiment was lifted in part by reassuring U.S. corporate results and U.S. data that showed pending sales of previously owned homes edged up in December. [.N] [ID:nN02242571]

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended the day up 90.79 points, or 0.8 percent, at 11,408.34, with all of the index's 10 main groups higher.

EnCana Corp (ECA.TO: Quote) climbed 2 percent to C$34.25, helped as the price of crude got a boost, in part from a weaker greenback [O/R]. Teck Resources (TCKb.TO: Quote) rose 2.7 percent to C$37.70 as base metals prices were firmer. [MET/L]

($1=$1.06 Canadian) (Reporting by Jennifer Kwan; editing by Peter Galloway)