CANADA STOCKS-TSX at 18-month high on oil rally, U.S. data

Mon Apr 5, 2010 10:43am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 50.43 points at 12,201.49

* Highest level since Sept. 2008

* Energy, materials lead index higher

By Claire Sibonney

TORONTO (Reuters) - Toronto's main stock index hit an 18-month high on Monday as oil prices climbed towards $86 a barrel and strong U.S. jobs data boosted hopes for a sustained economic recovery.

Crude futures also hit an 18-month high on Monday, sending the TSX's heavily weighted energy sector up 1.7 percent. [O/R]

Suncor Energy Inc (SU.TO: Quote) shot up 2.5 percent to C$35.18 and Canadian Natural Resources (CNQ.TO: Quote) jumped 2.2 percent to C$79.93.

At 10:23 a.m. (1423 GMT) The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 50.43 points, or 0.42 percent, at 12,201.40, its highest level since September 2008.

"Don't short a dull market, said Francis Campeau, a broker at MF Global Canada in Montreal.   Continued...