UPDATE 1-Resources, optimism lift Toronto stocks at open

Mon Apr 7, 2008 9:50am EDT
 
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TORONTO, April 7 (Reuters) - Toronto's main stock market index jumped more than 100 points after trading began on Monday, thanks to firm commodity prices and a healthy turn in investor sentiment.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 145.28 points, or 1.1 percent, at 13,813.47.

Nine of the TSX index's 10 main groups rose, led by a 2.4 percent boost in the resource-heavy materials group and a 1.4 percent rise in the influential energy sector. Financial shares, which make up about 30 percent of the index, were up 0.3 percent.

Materials shares road the coattails of a rise in the price of gold by more than 1 percent to $920.60 an ounce.

Goldcorp (G.TO: Quote) added 62 Canadian cents to C$41.42 and Barrick Gold Corp (ABX.TO: Quote), the world's biggest producer, gained 82 Canadian cents to C$44.88.

Meanwhile, other resource issues also helped, including Fording Canadian Coal Trust FDG_u.TO which gained C$5.32 to C$63.02 and Potash Corp POT.TO, which rose C$3.72 to C$176.29.

($1=$1.01 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)