CANADA STOCKS-TSX ends higher, gets lift from golds, Suncor

Fri Nov 13, 2009 5:01pm EST
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* TSX up 46.92 points at 11,407.68

* Index up 1.4 percent for the week

* Gold miners rise as bullion resumes climb

* Suncor gains on news of C$5.5 bln capex budget (Adds details, quotes)

By Jennifer Kwan

TORONTO, Nov 13 (Reuters) - Toronto's main stock index finished higher on Friday as stronger bullion prices pushed up shares of heavyweight miners such as Barrick Gold ABX.TO and Goldcorp G.TO, while Suncor Energy SU.TO rose on multibillion-dollar plans to boost crude production.

Barrick, the top influential advancer on the index, rose 1.9 percent to C$45.10, while Goldcorp was also up 1.9 percent at C$46.25 as the price of gold rose back within striking distance of its record high. [GOL/]

"The action on the upside is being led by the materials stocks, specifically the big gold producers. That is to be expected because gold seems to be reaching new highs practically every week," said Elvis Picardo, analyst and strategist at Global Securities in Vancouver.

Suncor was also a top gainer, rising 1.2 percent to C$36.89. The country's biggest oil company said on Friday it would budget C$5.5 billion for capital expenditures next year and would restart construction at an oil sands project. [ID:nBNG481094]   Continued...