CANADA STOCKS-TSX ends higher on stronger resource prices

Mon Jan 18, 2010 5:17pm EST
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* TSX ends up 0.56 percent at 11,750.54

* Materials, energy, financials lead rise

* Volume light with U.S. markets closed (Adds details)

By Ka Yan Ng

TORONTO, Jan 18 (Reuters) - Toronto's main stock index advanced on Monday as energy and materials producers rose on the back of stronger commodity prices.

Raw materials prices got support from hopes for strong Chinese demand, and that also lifted global equities. Oil rallied above $78 a barrel, snapping a five-day losing streak. [MKTS/GLOB][O/R]

Among the Toronto index's top gainers were Suncor Energy SU.TO, up 0.79 percent at C$37, while fertilizer producer Potash Corp POT.TO gained 1.1 percent to C$119.30.

The S&P/TSX composite index .GSPTSE closed up 65.17 points, or 0.56 percent, at 11,750.54. Volume was a fraction of its normal levels, with U.S. markets closed for the Martin Luther King Jr. holiday.

"With light volume and not a whole lot of conviction, there is no one shooting the lights out," said Peter Chandler, senior vice-president at Canaccord Wealth Management.   Continued...