CANADA STOCKS-TSX gets boost from commodity-price rally

Mon Jan 18, 2010 10:39am EST
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* S&P/TSX composite up 0.34 percent at 11,724.78

* Materials, energy shares lead TSX higher (Adds details, quotes)

By Claire Sibonney

TORONTO, Jan 18 (Reuters) - Toronto's main stock index was higher on Monday morning as energy producers and miners rose on the back of stronger commodity prices, which got support as the U.S. dollar weakened.

Leading the index's top gainers were miner Goldcorp Inc (G.TO: Quote), up 1.48 percent at C$41.20, and oil company Encana Corp (ECA.TO: Quote), up 1.22 percent at C$35.64.

At 10:15 a.m. (1515 GMT), the S&P/TSX composite index .GSPTSE was up 39.41 points, or 0.34 percent, at 11,724.78.

"We saw oil up this morning, so that's certainly making people a lot happier," said Brian Pow, vice president at Acumen Capital Partners in Calgary.

Oil rallied above $78 a barrel, snapping a five-day losing streak as the U.S. dollar eased against a basket of currencies.

Raw material prices also got support from hopes for strong Chinese demand, which lifted global equities on Monday. [GLOB/MKTS]   Continued...