Toronto stocks open higher ahead of Fed decision

Mon Dec 10, 2007 9:50am EST
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TORONTO Dec 10 (Reuters) - Toronto's main stock market index opened strongly on Monday, buoyed by firm gold prices and anticipation of a U.S. interest rate cut.

Just after the open, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 53.39 points, or 0.4 percent, at 13,916.36.

All 10 of the index's main groups rose, with a 1.2 percent boost in the resource-heavy materials group and a 0.4 percent rise in the influential energy group.

Gold shares led the way in the materials group on the back of a firm price for the precious metal. Barrick Gold ABX.TO, the biggest producer in the world, was up 94 Canadian cents at C$40.85.

In individual news, Montreal Exchange MXX.TO jumped C$3.85, or 10.4 percent, to C$41.05 after the TSX Group X.TO said it would pay C$1.3 billion for the Montreal-based derivatives exchange. TSX Group was down C$1.31 at C$55.91. ($1=$1.00 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)