UPDATE 4-Toronto stocks rally along with commodities

Wed Aug 13, 2008 5:15pm EDT
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(Adds details, quotes)

* TSX climbs 1.6 percent to breaks four-session slide

* Resource shares gain along with commodity prices

* Financials falter on economic worries

By Leah Schnurr

TORONTO, Aug 13 (Reuters) - The Toronto Stock Exchange's main index broke out of a four-session slump on Wednesday, soaring more than 200 points 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 prices eased from record highs, rose 4.4 percent, with Canadian Natural Resources CNQ.TO up 7.2 percent, or C$5.66, at C$84.54.

The materials sector also helped lift 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.   Continued...