CANADA STOCKS-TSX rises on U.S. earnings, China growth

Thu Apr 15, 2010 10:57am EDT
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* TSX up 33.52 points at 12,237.94

* Materials, financials, energy lead index higher

By Claire Sibonney

TORONTO, April 15 (Reuters) - Toronto's main stock index edged higher on Thursday morning as steady commodity prices, strong U.S. earnings and surging Chinese economic growth offset persisting worries over debt-laden Greece.

China, the world's top consumer of copper, reported economic growth accelerated in the first quarter to 11.9 percent, the fastest annual pace in nearly three years, boosting the Toronto index's materials sector by 0.3 percent.

Base-metals miner First Quantum Minerals (FM.TO: Quote) rose 0.6 percent to C$80.49, and HudBay Minerals (HBM.TO: Quote) shot up 3.5 percent to C$14.14.

Financials were up 0.3 percent. Bank of Montreal (BMO.TO: Quote) gained 0.8 percent to C$63.52, and Toronto-Dominion Bank (TD.TO: Quote) was 0.7 percent higher at C$77.21.

Oil held near $86 a barrel, which helped support energy stocks, even though strength in the U.S. dollar tempered an early rally on news of the Chinese data. [O/R]

Suncor Energy Inc (SU.TO: Quote), Canada's largest oil company, rose 0.2 percent to C$35.15, but natural gas major EnCana Corp (ECA.TO: Quote) lost 0.2 percent to C$31.73.   Continued...