CANADA STOCKS-Oil and gold prices push TSX higher

Wed Dec 16, 2009 10:59am EST
 
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 * TSX up 0.92 percent at 11,647.59
 * Oil prices above $71, gold higher
 (Adds details and comments)
 By Irene Kuan
 TORONTO, Dec 16 (Reuters) - Toronto's main stock index rose
to its highest level in nearly two weeks on Wednesday as a rise
in commodity prices helped boost energy and gold-mining
shares.
 Barrick Gold (ABX.TO: Quote), the world's biggest gold miner and
the main contributor to the index's gain, was up 2.6 percent at
C$42.60, while Suncor Energy (SU.TO: Quote) rose 1.6 percent to
C$37.83.
 "The focus up here is commodities are a little bit better.
Canadian dollar is a little stronger. Gold and oil both
stronger, and the gold sector in particular," said Bruce
Latimer, trader at Dundee Securities.
 Gold prices held above $1,130 an ounce on Wednesday,
supported by U.S. dollar weakness after U.S. inflation data met
expectations. [GOL/]
 Oil prices were up above $71 a barrel, extending gains
after snapping a nine-day losing streak a day earlier. [O/R]
 At 10:20 a.m. (1520 GMT), the S&P/TSX composite index
.GSPTSE was up 106.57 points, or 0.92 percent, at 11,647.59.
 Other heavyweight gainers on the index included Goldcorp
(G.TO: Quote), up 1.8 percent at C$42.50, while oil company Canadian
Natural Resources (CNQ.TO: Quote) rose 1.2 percent to C$71.04.
 ($1=$1.06 Canadian)
 (Reporting by Irene Kuan; editing by Peter Galloway)