CANADA STOCKS-TSX rallies higher, ends 7-day slide

Thu Jun 9, 2011 4:58pm EDT
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* TSX ends up 71.95 points, 0.6 pct, at 13,255.74

* Eight of 10 index sectors higher (Adds details, comments)

By Claire Sibonney

TORONTO, June 9 (Reuters) - Toronto's main stock index bounced back on Thursday from a seven-day fall as some positive U.S. economic data and higher commodity prices prompted investors to pick up worn-down shares.

Data that showed record-high U.S. exports and a smaller trade deficit in April eased fears about a stalled U.S. economic recovery that had weighed on the market for days. [ID:nN09117731]

The data helped economically sensitive financial stocks rise 0.4 percent. Among them, Royal Bank of Canada (RY.TO: Quote) was the index's second most heavily weighted gainer, rising 0.9 percent to C$54.86.

Resource shares led the advance, with the materials group up 1.5 percent and the energy group ahead 0.3 percent as U.S. crude futures and gold prices marched higher. [O/R] [GOL/]

Gold and base-metal miners rose 1.2 percent as Kinross Gold (K.TO: Quote) shot up 3.3 percent to C$15.25 and Teck Resources TCKb.TO jumped 1.9 percent to C$47.50.

Corn futures Cc1 also hit a record high, spurring a rally in fertilizer shares. Potash Corp (POT.TO: Quote) was the most influential climber on the index, surging 3.4 percent to C$53.98, while Agrium Inc (AGU.TO: Quote) was up 2.6 percent to C$82.49.   Continued...