CANADA STOCKS-TSX tops 12,000, hits 15-month high on commodities

Mon Jan 11, 2010 10:57am EST
 
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* S&P/TSX composite up 0.46 pct at 12,010.47

* Commodity-linked shares lead TSX higher

* Index highest level since September 2008

(Adds details, quote)

By Claire Sibonney

TORONTO, Jan 11 (Reuters) - Toronto's main stock exchange climbed above 12,000 for the first time since September 2008, as rising commodity prices powered energy and gold issues in the resource-heavy index.

Shares of Teck Resources Ltd (TCKb.TO: Quote), the biggest contributor to the index's gains, rose 1.9 percent to C$42.60, while Barrick Gold Corp (ABX.TO: Quote) followed with a 1.43 percent rise at C$43.35.

"There's a little move on commodities because the U.S. dollar has been weak, which has created a lot of this improvement in the marketplace," said Irwin Michael, a portfolio manager at ABC Funds.

Oil prices rose 1 percent, hitting a fresh 15-month high near $84 a barrel, supported by data showing China's crude oil imports surged by nearly 25 percent in December and as the dollar weakened. [O/R]   Continued...