CANADA STOCKS-Oil shares lead TSX charge after Europe deal

Mon May 10, 2010 10:34am EDT
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* TSX soars 2.31 percent to 11,962.57

* All 10 sectors higher, led by energy and financials

* Gold producers fall as investors seek riskier assets (Adds details)

By Ka Yan Ng

TORONTO, May 10 (Reuters) - Toronto's main stock index surged right out of the gate on Monday, led by its energy group, after an emergency aid deal aimed at preventing Greece's debt crisis from spreading through the euro zone shored up investor confidence.

Energy and financials rose 3.04 percent and 2.75 percent respectively as a wave of relief swept through financial markets worldwide. Crude oil rose above $77 a barrel, while industrial metals prices bounced. [O/R] [MET/L]

Suncor Energy (SU.TO: Quote) rose 3.54 percent to C$33.05, while Canadian Natural Resources (CNQ.TO: Quote) was up 3.1 percent at C$74.24. Bank of Montreal (BMO.TO: Quote) advanced 2.8 percent to C$C$60.61, while Toronto-Dominion Bank (TD.TO: Quote) rose 3.3 percent to C$74.29.

At 10:15 a.m. (1415 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 270.14 points, or 2.31 percent, at 11,962.57. It topped the 12,000 mark briefly.

The rise followed rallies in European and Asian shares and a strong start for U.S. stocks after the European Union and International Monetary Fund agreed to a rescue package. [MKTS/GLOB] [nTOPNOW2]   Continued...