CANADA STOCKS-TSX ends higher on commodities, optimism

Tue Aug 18, 2009 4:36pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 142.25 points, or 1.35 percent, at 10,673.84

* Materials, energy groups lead climb

* RIM up 4.3 percent after RBC raises price target

* Investors shrug off unexpected dip in U.S. house starts (Adds official closing figures, details, quotes)

By Jennifer Kwan

TORONTO, Aug 18 (Reuters) - Toronto's main stock index bounced higher on Tuesday as market sentiment brightened and rising commodity prices helped lift the resource-heavy index after Monday's steep descent.

Rising gold and oil prices boosted the key materials and energy groups, up 1.8 percent and 1.9 percent respectively. [ID:nSIN440961]

"For the Canadian market it has a lot to do with materials, with the fact that gold is up a few dollars and then crude is also up a couple bucks. Any time those two go up our market does well," said Jennifer Radman, vice-president and associate portfolio manager at Caldwell Investment Ltd.

Radman said the upbeat mood on Bay Street was helped by better than expected quarterly results from big U.S.-based retailers Home Depot (HD.N: Quote) and Target (TGT.N: Quote).   Continued...