CANADA STOCKS-TSX rises to catch up with U.S. Monday rally

Tue Aug 3, 2010 10:45am EDT
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*TSX up 116.49 points, or 0.99 percent, at 11,829.92

*Energy shares lead TSX higher as oil rises above $81

*All of TSX main sectors higher after Monday holiday

(Adds details, quotes)

By Jennifer Kwan

TORONTO, Aug 3 (Reuters) - Toronto's main stock index was sharply higher on Tuesday morning as a weaker U.S. dollar helped to boost oil prices, pushing energy shares higher, and as investors played catch-up with prices on other stock markets after a holiday Monday in Canada.

Energy issues, up 1.3 percent, led the TSX higher with Suncor Energy Inc (SU.TO: Quote) jumping 1.8 percent to C$34.51, and Canadian Natural Resources (CNQ.TO: Quote) rising 1.1 percent to C$35.79. The price of oil pierced $81 a barrel. [O/R]

The index's materials group rose 1.1 percent as gold and base metals prices climbed, boosting such names as Barrick Gold (ABX.TO: Quote), up 1 percent at C$42.69, and Teck Resources TCKb.TO, which climbed 2.4 percent to C$37.04.

Most Canadian markets were closed on Monday, missing out on rising stock prices in the United States.   Continued...