UPDATE 3-Toronto stocks get a big boost from commodities

Wed Aug 13, 2008 4:37pm EDT
 
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(Updates closing numbers, adds details, quotes)

*TSX index breaks four-session slump to end up 1.6 percent

*Resource shares gain along with commodity prices

*Financials falter on economic worries

TORONTO, Aug 13 (Reuters) - The Toronto Stock Exchange's main index rose more than 1 percent on Wednesday after four successive days of losses as the heavyweight resource sectors benefited from strong commodity prices.

A $3 gain in oil prices propelled the benchmark index higher following U.S. government data that showed a decline in fuel and crude supplies.

The energy sector, which has declined recently as oil has eased off record high prices, rose 4.4 percent, with Canadian Natural Resources (CNQ.TO: Quote) up 7.2 percent, or C$5.66, to C$84.54.

The materials sector also propped up the index, rising 6.5 percent, as gold prices followed oil's upward momentum. Agnico-Eagle Mines (AEM.TO: Quote) was up 9.6 percent, or C$4.98, at C$56.90.

The S&P/TSX composite index .GSPTSE closed up 210.22 points, or 1.6 percent, at 13,377.22 with half of its 10 main sectors in positive territory.   Continued...