UPDATE 3-Toronto stocks rise as resources offset Lehman woe

Fri Sep 12, 2008 5:15pm EDT
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*TSX climbs as resource shares rise with commodities

*Financials fall on worries over outlook for Lehman

*Index loses 0.4 percent for the week

(Adds details, quotes)

By Leah Schnurr

TORONTO, Sept 12 (Reuters) - The Toronto Stock Exchange's main index pushed higher on Friday as rallying resources overshadowed worries over the future of U.S. investment bank Lehman Brothers that have weighed on the market's financial sector.

A modest increase in the price of oil and gains in gold and other metals prices buoyed the energy and materials sectors, which had been hard hit in the index's recent steep selloff.

Among the biggest gainers, fertilizer firm Potash Corp of Saskatchewan (POT.TO: Quote) rose 6.3 percent to C$172.22, while miner Agnico-Eagle Mines (AEM.TO: Quote) was up 15.9 percent at C$56.14.

But the large financial sector slipped as it was bogged down by concern that Lehman LEH.N may fail to find a buyer because the U.S. government is reluctant to offer up financial backing. For details see: [ID:nSP6809].   Continued...