CANADA STOCKS-TSX rises as commodity prices rebound

Thu Jun 4, 2009 10:39am EDT
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* TSX rises 1.37 percent to 10,431.34

* Energy sector, up 2.1 percent, as oil climbs

* BoC holds rates steady at 0.25 percent, as expected (Adds details, quotes)

By Jennifer Kwan

TORONTO, June 4 (Reuters) - Toronto's main stock index rose on Thursday morning after a sharp drop in the previous session as strength in oil and gold prices helped to push the resource-laden market higher.

A mix of energy and gold companies topped the most heavily-weighted gainers as the index's energy sector climbed 2.1 percent, while materials rose 2.2 percent.

Suncor Energy (SU.TO: Quote) rose 3.5 percent to C$37.00, while Goldcorp (G.TO: Quote) was up 2.7 percent at C$41.40.

Comments from the Bank of Canada also pushed the market higher, said Rick Meslin, head of Canadian equities at UBS.

"In Canada, you've seen the Bank of Canada make very positive statements about improvements in commodities and overall business levels. So this is like a nice confidence booster," Meslin said.   Continued...