CANADA STOCKS-TSX gets boost from commodities, data

Wed Dec 23, 2009 12:28pm EST
 
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* TSX up 0.44 percent at 11,678.83

* RIM shares down after service outages

* FNX Mining up on production announcement (Adds details, comments)

By Irene Kuan

TORONTO, Dec 23 (Reuters) - Toronto's main stock index was up on Wednesday in holiday-thinned trade, boosted by stronger commodity prices and a mix of recent economic data from Canada and the United States.

Powerhouse gold producer Barrick Gold (ABX.TO: Quote) climbed 2.9 percent to C$42.38 on surging bullion prices, while Goldcorp (G.TO: Quote) was up 3.8 percent at C$42.25 and Kinross Gold (K.TO: Quote) rose 2.3 percent to C$19.65.

"We're coming up to the end of the year, and the U.S. dollar has had nine successive days of ups, so that's depressed the gold price. But it appears today the downward pressures (on gold) are alleviating so we've got a bounce," said John Ing, president of Maison Placements Canada.

At 11:45 a.m. (1645 GMT), the S&P/TSX composite index .GSPTSE was up 50.85 points, or 0.44 percent, at 11,678.83.

Gold prices gained nearly 1 percent on Wednesday, bouncing off from a seven-week low struck in the previous session.   Continued...