REFILE-UPDATE 2-Toronto stocks spike up on resources, RIM

Fri Dec 21, 2007 5:20pm EST
 
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(Refiles to fix spelling of "border" in ninth paragraph)

(Updates with official closing numbers, adds details)

TORONTO Dec 21 (Reuters) - The Toronto Stock Exchange's main index closed strongly higher on Friday in a tech and resource-fueled rally in which Research In Motion soared after posting impressive results.

BlackBerry-maker RIM RIM.TO was the net gain leader a day after the company reported that its third-quarter profit more than doubled as it pushed into the consumer market.

RIM raced ahead C$11.05, or 10.4 percent, to C$117.57 and helped pull the tech sector up 2.7 percent. Also in the sector, Celestica Inc CLS.TO rose 16 Canadian cents, or 2.8 percent, to C$5.85.

An advance in gold prices helped nearly all of the index's gold producers higher, while the materials group added 3.7 percent. Barrick Gold ABX.TO rose C$1.22, or 3.3 percent, to C$38.62, and Kinross Gold K.TO was up C$1.54, or 9.4 percent, at C$17.99.

Oil and gas shares climbed 1 percent, taking a cue from crude prices, which rose after a report showing a jump in personal spending in the United States calmed worries over the state of the U.S. economy.

Imperial Oil IMO.TO was up C$1.64, or 3.1 percent, at C$54.08, and Suncor Energy SU.TO rose C$1.33, or 1.3 percent, to C$106.06.

Overall, the S&P/TSX composite index .GSPTSE closed up 189.08 points, or 1.41 percent, at 13,596.09 with all but one of the TSX's 10 main sectors in positive territory. Health care was the only sector on the downside, dipping 0.4 percent.   Continued...