CANADA STOCKS-TSX hits one-week high on oil, gold strength

Wed Nov 4, 2009 5:15pm EST
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* TSX rises 45.30 points, or 0.41 percent, to 11,071.20

* Gold climbs to record high, oil prices rise

* Fed holds rates steady near zero (Adds details, quote)

By Jennifer Kwan

TORONTO, Nov 4 (Reuters) - Toronto's main stock index ended higher on Wednesday as strength in energy prices boosted oil and gas companies and a record high bullion price sent Barrick Gold (ABX.TO: Quote) and other miners higher.

Barrick rose 2.3 percent to C$42.94 and Kinross Gold (K.TO: Quote) finished the day up 3.8 percent at C$20.09 as the price of the precious metal hit a record high above $1,095 an ounce. [GOL/]

Oil company Nexen Inc NXY.TO was also a top gainer, rising 2.8 percent to C$24.42, while Suncor Energy (SU.TO: Quote) was up 0.5 percent at C$35.14 as the price of oil rose above $80 a barrel. [O/R]

"We're just seeing buying right across the board today. The commodities are acting well," said Bruce Latimer, trader at Dundee Securities.

The market was also heartened by the U.S. Federal Reserve's statement that it would keep its key interest rate near zero, while it expressed confidence that the U.S. economic recovery was gaining steam. [ID:nN04453484]   Continued...