CANADA STOCKS-TSX rises as commodities show strength

Fri May 22, 2009 10:59am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 0.92 percent at 10,041.60

* Materials gain 2.4 percent as metal prices firm

* Volumes expected to be thin ahead of U.S. holiday (Adds details, quote)

By Jennifer Kwan

TORONTO, May 22 (Reuters) - Toronto's main stock index rose nearly 1 percent on Friday morning, rebounding from a 2.8 percent tumble in the previous session, as resource issues climbed on firm commodity prices.

The materials group, home to miners and fertilizer companies, gained 2.4 percent and led the TSX higher. The price of gold was steady, while industrial metals were mostly higher on the back of a weaker U.S. dollar and rising equity markets. [ID:nLM456762]

Barrick Gold ABX.TO rose 2.8 percent to C$43.16, while Teck Resources TCKb.TO climbed 4 percent to C$15.74.

Potash Corp of Saskatchewan POT.TO was up 3.5 percent at C$128.51 while Agrium Inc AGU.TO rose 3.9 percent to C$57.65, following an upgrade by Citigroup. [ID:nWNAB2865]

The energy sector added 1 percent even though the price of oil CLc1 was largely flat, retreating from earlier strength in choppy trade. [ID:nN22363696]   Continued...