Toronto stocks boosted by commodities before Fed

Tue Dec 11, 2007 9:58am EST
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TORONTO Dec 11 (Reuters) - The Toronto Stock Exchange's main index climbed early on Tuesday, adding to four straight days of gains as energy and metals stocks followed commodity prices higher.

The S&P/TSX composite index .GSPTSE was up 54.44 points, or 0.4 percent, at 13,994.80, with eight of its 10 main groups logging gains.

Energy stocks rose 0.6 percent and materials rose 0.7 percent, while the remaining eight sectors traded relatively flat ahead of an impending interest rate decision by the U.S. Federal Reserve.

The Fed is expected to cut rates by 25 basis points later on Tuesday, although some are calling for a 50-point cut to protect the world's biggest economy against a recession.

On the commodity exchanges, U.S. crude oil rose more than $1 to above $89 a barrel, natural gas advanced, and most base metals were in positive territory.

($1=$1.01 Canadian) (Reporting by Jonathan Spicer; Editing by Bernadette Baum)