CANADA STOCKS-TSX surges on China data, ECB moves

Thu Jun 10, 2010 5:27pm EDT
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* TSX closes up 185.21 points at 11,635.85

* Resources, financials lead rise

* China exports surge almost 50 percent

* ECB announces extra liquidity for banks (Adds details, quotes, fall in gold stocks)

By Claire Sibonney

TORONTO, June 10 (Reuters) - Toronto's main stock index closed sharply higher on Thursday, led by its heavyweight resource and financial sectors, as European Central Bank moves and a leap in Chinese exports brightened sentiment and boosted the demand outlook for commodities.

Official data showed Chinese exports jumped 48.5 percent in May from a year earlier, well above forecasts for a 32 percent gain and confirming a Reuters report from Wednesday. [ID:nTOE65901X]

The price of oil rose more than $1 to above $75 a barrel as the solid Chinese figures and a rosier demand forecast by the International Energy Agency attracted buyers, lifting the TSX index's powerhouse energy group 2.3 percent. [O/R]

Suncor Energy Inc (SU.TO: Quote) rose 2.7 percent to C$33.39, while Canadian Natural Resources (CNQ.TO: Quote) climbed 3.9 percent to C$37.16.   Continued...