CANADA STOCKS-TSX gains broadly, resources support

Tue Jun 15, 2010 10:46am EDT
 
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* TSX advances 0.9 percent to 11,771.69

* All 10 sectors rise (Adds details)

TORONTO, June 15 (Reuters) - Toronto's main stock index gained broadly on Tuesday aided by firm commodities and a growing appetite for riskier assets following solid demand at several euro zone debt auctions.

Higher commodity prices were influential to the resource-heavy index, with oil climbing above $76, while gold and base metals also firmed. [O/R] [MET/L] [GOL/] This pushed the energy group up 1.14 percent, while materials rose 0.6 percent.

Key advancers included Suncor Energy (SU.TO: Quote), up 1.7 percent at C$34.09, and Canadian Natural Resources (CNQ.TO: Quote), up 1.5 percent at C$37.82. Teck Resources (TCKb.TO: Quote) gained 1.5 percent to C$35.61, and Cameco (CCO.TO: Quote) added 1.55 percent to C$24.18.

"We're bumping up against the top of the trading range again here. What's working right today is oil and gas, base metals, some of the materials," said Peter Chandler, senior vice-president at Canaccord Wealth Management in Waterloo, Ontario.

The main index rose more than 1 percent earlier to reach its highest in more than a week at 11,813.95 before paring gains. All 10 of the index's main groups were on the rise.

At 10:15 a.m. (1415 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 104.35 points, or 0.9 percent, at 11,771.69.

The euro zone auction news eased short-term concerns about the region's fiscal problems, helping to push world stock markets higher. [.N] [FRX/] [ID:nLDE65E0WQ] [ID:nWLA6316] [ID:nTAR001853]   Continued...