CANADA STOCKS-TSX bounces back on commodities, U.S. earnings
(Refiles to delete extraneous 'the' in penultimate paragraph)
* TSX up 142.61 points, or 1.2 percent, at 11,955.61
* Energy, metals, financials lead index higher
By Claire Sibonney
TORONTO, May 18 (Reuters) - Toronto's main stock index shot higher on Tuesday morning, supported by a rebound in commodity prices and cautious optimism about the economic recovery on positive U.S. data and robust earnings.
Oil rose more than 3 percent to above $72 a barrel, recovering from a five-month low the previous session, sending the TSX's powerhouse energy sector almost 2 percent higher. [O/R]
The mining sector surged almost 4 percent as industrial metals bounced from a sharp selloff. Teck Resources (TCKb.TO: Quote), Canada's biggest base-metals miner, soared 5.5 percent to C$34.92 and First Quantum Minerals (FM.TO: Quote) surged 4.7 percent to C$68.04. [MET/L]
"What we're seeing here is just kind of a normal rebound after everything got slammed pretty badly yesterday," said John Kinsey, portfolio manager at Caldwell Securities. Continued...