CANADA STOCKS-Gold stocks shine in TSX's third day of gains

Wed Oct 7, 2009 4:51pm EDT
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 * TSX rises 0.91 percent to close at 11,349.88
 * Gold miners rally for second day with prices at new high
 * Energy shares fall with price of oil
 By Ka Yan Ng
 TORONTO, Oct 7 (Reuters) - Toronto's main stock index put
together a late rally to book a third-straight day of
triple-digit gains on Wednesday as gold prices rose to a record
high and lifted shares of gold producers such as Barrick Gold
ABX.TO and Goldcorp G.TO.
 Gold mining shares built on strong gains from the previous
session and Barrick shares were among the key drivers of the
index's gain. Barrick was up 1.3 percent at C$41.77, while
Goldcorp rose 1.1 percent to C$44.71.
 The rally was supported by another record-setting day for
the price of gold, which neared $1,050 per ounce, as mounting
worries about inflation pulled more investors toward the
precious metal. [GOL/]
 The index was up only modestly for most of the day, held up
by gold miners and other stocks in the materials group, until
the last hour, when almost all the index's components turned
 Francis Campeau, broker at MF Global Canada in Montreal,
said it was quiet ahead of Alcoa results, which kick off U.S.
earnings season, as market players held positions after two
strong sessions.
 After market close, aluminum producer Alcoa posted a
surprise profit after three quarterly losses, mainly because of
cost savings and an increase in aluminum prices
 Notable risers included Royal Bank of Canada RY.TO and
Toronto-Dominion Bank TD.TO, which ended as the top two
heavyweight gainers. Royal was up 1.2 percent at C$56.31, while
TD gained 1.53 percent to C$65.80.
 Most energy shares were under pressure, including EnCana
ECA.TO, as the price of oil slipped more than 1 percent to
below $70 a barrel. Encana topped all heavyweight decliners,
falling 0.7 percent to C$60.97.
 The S&P/TSX composite index .GSPTSE closed up 101.91
points, or 0.91 percent, at 11,349.88.
 (Editing by Peter Galloway)