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 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 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...