CANADA STOCKS-TSX rises as oil and metals prices firm

Mon Aug 9, 2010 10:43am EDT
 
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*TSX up 27.02 points, or 0.23 percent, to 11,826.99

*Nine of 10 main sectors higher

*Menu Foods rises 45 percent after deal news (Adds details, quote)

By Jennifer Kwan

TORONTO, Aug 9 (Reuters) - Toronto's main stock index was slightly higher on Monday morning as firm oil and base-metals prices helped to boost the market's resource-linked shares.

The energy sector got a boost from firm oil prices, which rose above $81 a barrel, helped by U.S. dollar weakness. [O/R] Suncor Energy SU.TO was up 0.3 percent at C$34.21.

Copper prices edged higher, supported in part by the generally weaker U.S. dollar and sliding inventories. [MET/L] Teck Resources TCKb.TO rose 2 percent to C$36.31.

Financial shares also rose, boosted by Royal Bank of Canada RY.TO, which climbed 1 percent at C$53.47.

Weighing on the index's materials sector, down 0.3 percent, were gold-mining stocks, including Barrick Gold ABX.TO, which fell 0.7 percent to C$44.34. Fertilizer producer Potash Corp POT.TO fell 0.8 percent to C$115.66 following a runup last week.   Continued...