CANADA STOCKS-TSX rises for fifth session on investor optimism

Wed Sep 16, 2009 5:20pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX closes up 0.52 percent at 11,555.60

* US$ weakness and investor optimism help gold, oil

* Index is at highest point since mid-October (Adds details, analyst comment)

By John McCrank

TORONTO, Sept 16 (Reuters) - Toronto's main stock index rose for a fifth-straight session on Wednesday, lifted by a rally in the energy and materials sectors as investors bet the economy may be set to turn around.

The upbeat mood helped lift the index to its highest level since mid-October.

Heavyweight gainers included Barrick Gold (ABX.TO: Quote), which rose 1 percent to C$41.09, and Iamgold (IMG.TO: Quote), up 3.3 percent to C$16.74.

U.S. gold futures closed near a 14-month high above $1,020 per ounce as the U.S. dollar fell to a 2009 low against the euro and investors sought the metal as a hedge against inflation. [ID:nN16148631]

Other metals, such as copper, aluminum and zinc, were lifted along with gold. Base metals miner Teck Resources TCKb.TO rose 2.6 percent to C$30.00.   Continued...