CANADA STOCKS-Commodities, jobs data push TSX higher

Fri Apr 8, 2011 10:34am EDT
 
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*TSX up 96.52 points, or 0.68 pct, at 14,204.29

*Seven of 10 sectors advance (Updates with details, quotes)

By Claire Sibonney

TORONTO, April 8 (Reuters) - Toronto's main stock index rose sharply on Friday morning as stronger commodity prices, including a record high for gold, boosted key resource shares and strong jobs data lifted sentiment.

Most index sectors were stronger, with the materials group up 1.3 percent, energy up 1.1 percent, and financials 0.2 percent firmer.

Among top gainers, Barrick Gold Corp ABX.TO jumped 1.2 percent to C$52.13, Teck Resources TCKb.TO climbed 1.2 percent to C$55.73, and Suncor Energy SU.TO advanced 1.7 percent to C$44.03.

U.S. crude prices climbed above $110 a barrel to a high last reached in September 2008, while gold touched $1,468.81 an ounce, and copper rose about 2 percent to its highest level in a month. [O/R] [GOL/] [MET/L]

"Oil just keeps on trucking ... and gold has had a nice jump here ... so that would be a new record high if it holds," said John Kinsey, portfolio manager at Caldwell Securities.

"Gold stocks for a change have participated in the upward trend of the metal and the oil stocks are doing well as you would expect," he added, noting that he expects companies in both of those groups to soon report positive earnings.   Continued...