UPDATE 3-Toronto stocks rise on resources, down for week

Fri Feb 8, 2008 5:14pm EST
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By Leah Schnurr

TORONTO Feb 8 (Reuters) - The Toronto Stock Exchange's main index ended higher on Friday in a late-day push propelled by resource issues, as key commodity prices climbed.

The heavyweight energy sector followed crude oil higher, as the commodity jumped 4 percent on supply disruptions and an oncoming cold spell in the U.S. Northeast.

Suncor Energy (SU.TO: Quote) rose C$1.74, or 1.9 percent, to C$94.79, and Canadian Natural Resources (CNQ.TO: Quote) gained C$1.26, or 2.1 percent, to C$62.21. The sector overall was up 1.1 percent.

The materials sector added 1.6 percent, while its subindex of gold producers was up 2.3 percent amid climbing bullion prices.

Agnico-Eagle Mines (AEM.TO: Quote) rose C$2.05, or 3.3 percent, to C$63.45, and Goldcorp (G.TO: Quote) moved up C$1.39, or 3.9 percent, to C$36.73.

The S&P/TSX composite index .GSPTSE closed up 63.97 points, or 0.49 percent, at 12,989.34. But the benchmark lost 2.5 percent on the week, plagued by worries of a U.S. recession.

The retreat included a more than 300-point drop on Tuesday after U.S. data showed the non-manufacturing services index fell in January, fueling fears the slump in the U.S. housing market has spread to the wider economy.   Continued...