December 2, 2009 / 3:19 PM / 8 years ago

CANADA STOCKS-Gold pushes TSX to 14-month high

4 Min Read

 * TSX up 45.06 points at 11,752.38
 * Gold mining shares headline latest rally
 * Higher starts follows Tuesday's 2.27 pct gain  (Adds details and comments)
 By Frank Pingue
 TORONTO, Dec 2 (Reuters) - Toronto's main stock index rose to its highest level in more than 14 months on Wednesday, adding to a big gain in the previous session, as record high gold prices sparked a rally in shares of gold miners.
 Shares of Barrick Gold Corp (ABX.TO), which headlined the early rise, were up 2.4 percent at C$49.40, while Kinross Gold (K.TO) was up 3.6 percent at C$22.90.
 The gains in gold miners came as the price of gold hit another record high, $1,216.75 an ounce, on expectations of further U.S. dollar weakness. [GOL/]
 "I thought we'd come in here with a take the money and run sort of attitude but so far we are up marginally here." said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "But gold just seems to keep moving up here."
 The rise in the TSX follows a 2.27 percent gain in the previous session powered mostly by energy and gold players.
 At 10:05 a.m. (1505 GMT), the S&P/TSX composite index .GSPTSE was up 45.06 points, or 0.38 percent, to 11,752.38. Earlier it rose as high as 11,753.55, its highest level since Oct. 1.
 ($1=$1.04 Canadian)  (Editing by Peter Galloway)  ((frank.pingue@thomsonreuters.com ; +1 416 941-8094; Reuters Messaging: frank.pingue.reuters.com@reuters.net)) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report..........[.TO] Canadian dollar and bonds report....[CAD/][CA/] Top News: Canada ......[TOP/CAN] Today in Canada.......[CA/DIARY] Canadian company news .. [E-CAN] Reuters global stocks poll (Canada)...EQUITYPOLL5 [EPOLL/CA] FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide.......<CA/EQUITY> S&P/TSX Composite index ...............GSPTSE S&P/TSE Venture composite index .......SPCDNX TSX most active..........AV.TO Venture Exchange most active.............AV.V Top TSX pct gainers......PG.TO Top TSX pct losers.......PL.TO S&P/TSX 60 index ........TSE60 52 week highs:
 TSX...............t.YH.TO  Venture..............t.YH.V 52 week lows:
 TSX...............t.YL.TO  Venture..............t.YL.V Canadian dollar quote......CAD=CAD=D3=CAD FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS:   FTSE EUROTOP 300 ......FTEU3  EUROPEAN REPORT .......[.EU]   Nikkei 225..............N225  Tokyo report............[.T]   FTSE 100................FTSE  London report...........[.L]   Xetra DAX..............GDAXI  Frankfurt market stories[.F]   CAC-40...FCHI  Paris market stories...[.PA]   World Indices.......<0#.INDEX>   Foreign exchange........[FRX/]   Oil.......[O/R]   US Treasuries............[US/]   International bonds.....[EUB/]   Gold.........[GOL/X] or [GOL/]   CRB index of commodity futures.........[CRB/] 

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