CANADA STOCKS-TSX plays catch-up, energy, financials rise

Tue May 19, 2009 10:28am EDT
 
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* TSX climbs 2.24 percent to 9,981.45

* Index catches up after market closed on Monday

* Energy sector up 3.4 pct; oil gives back early gains

* Viterra agrees to buy ABB Grain Ltd in a $1.2 bln deal (Adds details, quote)

By Jennifer Kwan

TORONTO, May 19 (Reuters) - Toronto's main stock index opened sharply higher on Tuesday as higher oil prices boosted oil and gas issues and as Toronto played catch-up with U.S. stock markets after being closed on Monday for the Victoria Day holiday.

All of the index's 10 main groups were in the black, with the energy sector, up 3.4 percent, leading the charge higher. Canadian Natural Resources (CNQ.TO: Quote), up 5.2 percent at C$60.95, and Suncor Energy (SU.TO: Quote), which climbed 3.6 percent to C$34.87.

"It's pretty much follow up on yesterday's very strong day in New York," said Bob Gorman, chief portfolio strategist at TD Waterhouse.

"You had strength across the board in New York and that reflected really strong sentiment."   Continued...