CANADA STOCKS-TSX up as golds, oils offset broad decline

Wed Feb 23, 2011 10:44am EST
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* TSX rises 0.4 percent to 14,019.28

* Index advance in contrast to world indices

* Energy, gold-miners gains offset 7 weakening sectors (Adds details)

By Ka Yan Ng

TORONTO, Feb 23 (Reuters) - Toronto's main stock index rose on strength in its oil and gas sector on Wednesday morning as oil prices made further gains and gold prices rose in reaction to the revolt in Libya.

The rise was dominated by strengthening energy and gold-mining issues, which helped lift the index from the near one-week lows it hit late Tuesday.

Most stock markets around the world slid further from recent 30-month highs on Wednesday and safe-haven bond markets rose on fears that unrest in Libya could spread to other oil-producing nations in the region and choke off exports. [MKTS/GLOB]. In New York, the Dow Jones industrial average was down again after putting in its worst session since August on Tuesday.

At 10:15 a.m. (1515 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 55.60 points, or 0.4 percent, at 14,019.28. Seven of the index's 10 main groups were lower, offset by strong advances in energy and in the materials group, home to gold miners.

Brent and U.S. crude oil futures extended their rallies on the worries about supply disruptions. [O/R]   Continued...