CANADA STOCKS-TSX climbs on resource-driven rally

Fri Oct 8, 2010 4:53pm EDT
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   * TSX up 89.66 points, or 0.72 percent, to 12,535.59
 * Eight of the 10 key sectors higher or flat
 * Suncor, Potash, Agrium, Teck Resources, Barrick lead
 (Updates to close)
 By Solarina Ho
 TORONTO, Oct 8 (Reuters) - Toronto's main index finished
higher on Friday stronger resource prices helped resource
stocks and weak jobs data in the United States and Canada
supported speculation the central banks would keep trying to
stimulate the North American economy. [ID:nN08205203]
 The heavily weighted materials and energy sectors were up
1.8 percent and 1.3 percent respectively.
 Fertilizer producer Potash Corp POT.TO led the miners, up
2.8 percent at C$147.50, while Agrium Inc AGU.TO jumped 7.1
percent to C$82.12. Both companies were helped as corn prices
that rose on news that the U.S. government was estimating the
smallest inventory at the end of the crop year in 15 years.
 The S&P/TSX composite index .GSPTSE rose 89.66 points, or
0.72 percent, to 12,535.59. Seven of its 10 key sectors were
higher, while telecoms stocks were flat. The index rose about
1.7 percent for the week.
 "Driving that ... like it has been in the past few weeks,
has been a little bit of weakness in the trade-weighted dollar,
which has just been falling day after day after day," said
Gareth Watson, a Canadian equity advisor with the Portfolio
Advisory Group at ScotiaMcLeod.
 "It was driven mostly by currency movements and the
corresponding response by commodity prices to that."
 The price of gold, already up about 10 percent since the
end of August, climbed 1 percent as weak U.S. jobs data drove
investors toward the safe haven precious metal. [MET/L]
 Barrick Gold ABX.TO a top market mover, was up 1.2
percent at C$49.08.
 Oil prices were also fueled by the weaker dollar, amid
expectations the U.S. Federal Reserve would act to boost the
economy following the weaker-than-expected jobs report.
 Suncor Energy SU.TO rose 2.8 percent, ending the session
at C$35.04.