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

Tue Feb 2, 2010 5:04pm EST
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* 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: Quote) led the heavyweight gainers, rising 1.9 percent to C$53.80, while Canadian Natural Resources (CNQ.TO: Quote) 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]   Continued...