CANADA STOCKS-Resilient resources push TSX higher

Fri Apr 15, 2011 10:32am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 58.89 points at 13,880.69

* All 10 main sectors stronger (Updates with details, commentary)

By Claire Sibonney

TORONTO, April 15 (Reuters) - Toronto's main stock index edged higher on Friday as firmer energy and materials issues shrugged off worries that China's surging inflation could hurt demand in the top resource consumer.

U.S. crude futures turned positive after data showed U.S. consumer sentiment rose more than expected in April as worries about the impact of higher oil prices on economic growth eased slightly, boosting energy shares 0.6 percent. [O/R]

Canadian Natural Resources (CNQ.TO: Quote) advanced 1.2 percent to C$43.14, while Suncor Energy (SU.TO: Quote) gained 0.3 percent to C$42.23.

Nagging worries that supply in the Middle East and North Africa could be at risk as fighting in Libya continued also supported oil prices.

At 10:19 a.m. (1419 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 58.89 points, or 0.43 percent, at 13,880.69. All 10 of the main sectors were higher, including financials, up 0.1 percent.

Miners also did slightly better, lifting the materials group 0.4 percent, as gold prices held near record highs, and despite copper heading for a fifth straight session of losses. [MET/L] [GOL/]   Continued...