CANADA STOCKS-TSX finishes week with 2.36 percent gain

Fri May 22, 2009 4:40pm EDT
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* TSX closes up 0.44 percent at 9,993.42

* Index up 2.36 percent for the week

* Materials gain 1.2 percent as metal prices firm (Adds details, quote, updates numbers)

By Jennifer Kwan

TORONTO, May 22 (Reuters) - Toronto's main stock index closed higher on Friday, but off early highs, as energy and materials issues got a lift from firmness in commodity prices.

The materials group, home to miners and fertilizer companies, gained 1.2 percent and led the TSX higher. The price of gold was steady, while industrial metals prices were mostly higher on the back of a weaker U.S. dollar and steady equity markets. [ID:nLM456762]

Barrick Gold (ABX.TO: Quote) rose 1.6 percent to C$42.65, while First Quantum Minerals (FM.TO: Quote) rose 3.3 percent to C$48.66.

Fertilizer company Potash Corp of Saskatchewan (POT.TO: Quote) climbed 3.1 percent to C$127.80, while Agrium Inc (AGU.TO: Quote) rose 2 percent to C$56.58. Both were upgraded by Citigroup on Friday. [ID:nN22358625]

"We're seeing some good performance on base metals and gold," said Francis Campeau, broker at MF Global Canada, in Montreal. "That was holding the market up all day."   Continued...