CANADA STOCKS-TSX up slightly after 7-day decline

Thu Jun 9, 2011 11:09am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 34.83 points, 0.3 pct, at 13,218.62

* Six of 10 sectors higher (Updates with details, commentary)

By Claire Sibonney

TORONTO, June 9 (Reuters) - Toronto's main stock index pushed higher on Thursday morning, with investor sentiment getting a boost from rallying commodity prices and some decent economic signals following a seven-day selloff.

Better than expected U.S. trade data offset disappointing U.S. jobless claims and Canadian trade data.

Resource shares led the advance, with materials up 1 percent and the energy group up 0.3 percent as oil U.S. crude futures and gold prices marched higher. [O/R] [GOL/]

Corn futures Cc1 also hit a record high, sending fertilizer companies up sharply.

Potash Corp (POT.TO: Quote) was the most influential gainer on the index, jumping 3.2 percent to C$53.87, while Agrium Inc (AGU.TO: Quote) rose 2.6 percent to C$82.46.

"We're very oversold technically," said Paul Gardner, partner and portfolio manager at Avenue Investment Management.   Continued...