CANADA STOCKS-Gold miners lead TSX to 15-month high

Wed Jan 6, 2010 12:46pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Key index hits highest level since Sept 2008.

* Gold stocks up 3 percent as bullion prices rise

* Ivanhoe jumps after it says to look at options

* WestJet rises after Dec load factor sets record (Adds analyst's comments, details. Updates prices)

By Claire Sibonney

TORONTO, Jan 6 (Reuters) - Toronto's main stock index climbed for a fifth straight session on Wednesday, boosted by strength in its weighty materials sector as a stronger bullion price lifted shares of gold miners.

Barrick Gold Corp (ABX.TO: Quote), up 2 percent at C$43.32, played the biggest role of any stock in leading the index higher. Goldcorp Inc (G.TO: Quote), up 2 percent at C$43.59, also added to the gains as gold prices rose to near three-week highs as fresh new year investment flows boosted commodities. [GOL/]

At 11:55 a.m. (1655 GMT) the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 45.8 points, or 0.39 percent, at 11,933.88. The index at one point hit as high as 11,953.28.

"We continue to see a broad-based rally in base metals and precious metals that has a two-fold emphasis," said Peter Chandler, senior vice president at Canaccord Wealth Management.   Continued...