CANADA STOCKS-TSX gains on EU pledge to aid Greece

Thu Feb 11, 2010 4:32pm EST
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* TSX up 149.16 points, or 1.32 percent, at 11,435.49

* Greece rescue plan helps lift investor confidence

* Manulife, Sun Life fall on disappointing results (Updates to close, adds quote)

By Jennifer Kwan

TORONTO, Feb 11 (Reuters) - Toronto's main stock index touched its highest level in a week on Thursday as a European Union rescue plan for debt-laden Greece helped lift market confidence and commodity prices.

Topping the list of big gainers were Potash Corp of Saskatchewan (POT.TO: Quote), up 4.2 percent at C$117.07, Barrick Gold (ABX.TO: Quote), which climbed 2.7 percent to C$38.94, and Teck Resources TCKb.TO, up 6 percent at C$37.70.

A pledge by European leaders to support Greece helped to boost prices of oil above $75 a barrel, while gold and base metals were firmer. [O/R] [GOL/] [MET/L].

The Canadian dollar was also higher against the U.S. dollar on increased investor willingness to shoulder risk. [ID:nLDE61A0W2] [CAD/]

"You're getting some form of backstop for Greece. That was the key thing that everyone is looking at," said John Johnston, chief strategist for Harbour Group at RBC Dominion Securities.   Continued...