CANADA STOCKS-TSX gets boost from commodities, Bank of Canada

Thu Sep 10, 2009 4:54pm EDT
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* TSX rises 154.83 points to 11,155.00

* Energy and gold-miners headline rally

* Bank of Canada sees more growth in 2009 (Adds details and comments)

By Frank Pingue

TORONTO, Sept 10 (Reuters) - Toronto's main stock index closed higher on Thursday as a rally in oil and gold prices lured investors into the resource-heavy index while the Bank of Canada's confidence in the economy also added support.

A statement from the Bank of Canada ahead of the market open predicted faster-than-expected growth in Canada this year in what was considered a mostly upbeat release. [ID:nN10390757]

But it was energy and gold-mining shares that did the bulk of the heavy lifting in the latest session, a move credited to oil prices that extended a four-day rally and a rise in gold to back above $990 per ounce.[O/R][GOL/]

The energy sector's 2.4 percent gain was powered by shares of Suncor Energy (SU.TO: Quote), which rallied 3.9 percent to C$36.15, followed by Canadian Natural Resources (CNQ.TO: Quote), which rose 2.5 percent to C$67.87.

The materials group ended up 2.5 percent, a move aided by Barrick Gold (ABX.TO: Quote), which jumped 3 percent to C$40.99 and Goldcorp (G.TO: Quote), whose shares rose 3 percent to C$43.99.   Continued...