3 Min Read
* TSX ends up 90.79 points, or 0.8 pct, at 11,408.34
* Rise extends Monday's 2 percent surge
* Miners gain on firm base metal prices
* Suncor drops 5.7 pct after disappointing results (Adds details)
By Jennifer Kwan
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 the recovery.
Royal Bank of Canada (RY.TO) led the heavyweight gainers, rising 1.9 percent to C$53.80, while Canadian Natural Resources (CNQ.TO) rose 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 data that showed pending sales of previously owned U.S. 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 10 of its main groups higher.
The move higher extended Monday's 2 percent gain, its steepest rise since early December, as Institute for Supply Management data showed the U.S. manufacturing sector grew more than expected in January, and added to strong factory figures from China, Australia and the euro zone.
"The key piece of economic information was the ISM number from yesterday and the pending home sales number (on Tuesday) built on that," said Johnston.
Energy heavyweight EnCana Corp (ECA.TO) climbed 2 percent to C$34.25, as the price of crude rose nearly 4 percent to top $77 a barrel on hopes for the economic recovery and a weaker greenback [O/R].
But gains for the oil and gas sector were limited by disappointing quarterly results from Suncor Energy (SU.TO), Canada's largest energy company. [ID:nN01209333] Suncor led the index's decliners, down 5.7 percent at C$32.85.
Teck Resources TCKb.TO rose 2.7 percent to C$37.70 as base metal prices were firmer. [MET/L]
The blue chip S&P/TSX 60 index .TSE60 closed 4.40 points higher, or 0.67 percent, at 665.99.
$1=$1.06 Canadian Reporting by Jennifer Kwan; editing by Rob Wilson