CANADA STOCKS-Commodity stocks help TSX to big rally

Thu Nov 13, 2008 4:50pm EST
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*Benchmark index rises 4.8 percent

*Energy stocks up 7 pct as oil rises

*Materials shares rally 10 pct as gold price soars

*Loblaw rises 6 pct after quarterly results

* (Adds official closing numbers, details)

TORONTO, Nov 13 (Reuters) - The Toronto Stock Exchange's main index soared toward the close on Thursday as energy and materials issues rose on higher commodity prices and on hopes the market is close to finding a bottom.

Before surging at the end of the day, the benchmark index had see-sawed in a 780-point range from trough to peak as it tried to find its footing.

Among heavily weighted stocks that helped the index move higher were EnCana Corp (ECA.TO: Quote), up 8.7 percent at C$58.11, and Goldcorp (G.TO: Quote), which rose 16.9 percent to C$27.99.

The index's energy sector rose 7 percent and the materials group soared 10 percent, supported by rises in oil [ID:nSYD383548] and gold prices. [ID:nLD637883]   Continued...