CANADA STOCKS-TSX posts fourth day of gains, materials rebound

Fri Jul 9, 2010 4:37pm EDT
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* TSX rises 1.2 percent to end at 11,570.45

* Eight of 10 sectors advance, materials lead

* Canada's economy posts near-record gain in June (Updates to close)

TORONTO, July 9 (Reuters) - Toronto's main stock index rose more than 1 percent on Friday, rallying for a fourth straight session, helped by confidence in the economy from stunning jobs data, while firm resource prices helped materials lead all sectors higher.

Materials were up 2.3 percent, rebounding from Thursday's selloff, as the price of gold moved back above $1,200 an ounce. As well, copper prices advanced to their highest in nearly two weeks on improving global demand signals. [GOL/] [MET/L]

Among key gainers No. 1 producer Barrick Gold Corp (ABX.TO: Quote) was up 1.42 percent at C$45.04, while diversified miner Teck Resources TCKb.TO rose 3.37 percent to C$35.60.

Financials were also among the solid gainers, rising 1.37 percent on confidence in the domestic economy. Royal Bank of Canada (RY.TO: Quote) was up 2.4 percent at C$54.37.

Data released early on Friday showed Canada's economy created six times more jobs than forecast in June to a near-record gain. [ID:nN09261751]

But so-called defensive sectors such as utilities, up 1.75 percent, and consumer staples, up 0.92 percent, also posted strong gains.   Continued...