CANADA STOCKS-TSX moves higher on commodities, techs

Fri Apr 23, 2010 11:19am EDT
 
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* TSX up 0.4 percent at 12,207.67

* Resources, techs lead index higher

By Claire Sibonney

TORONTO, April 23 (Reuters) - Toronto's main stock index rose on Friday morning after a shaky start as firming commodity prices boosted resource shares and technology issues made hefty gains.

The index's materials group was up 0.7 percent as safe-haven gold rose more than 1 percent to above $1,150 an ounce after news that debt-laden Greece has moved to trigger a huge financial bailout. Meanwhile, upbeat global economic data boosted the demand outlook for base metals. [GOL/] [MET/L]

Shares of Barrick Gold Corp (ABX.TO: Quote), the world's largest bullion producer, were up 0.5 percent at C$40.36, while Teck Resources (TCKb.TO: Quote), the country's biggest base-metals miner, added almost 1 percent to C$44.41, a day after it said it will reinstate its common share dividend. [ID:nN22107208]

"That's very positive when we're talking about a firm that is having liquidity issues,' said Francis Campeau, a broker at MF Global Canada in Montreal.

Oil prices rose above $84 a barrel, sending the index's powerhouse energy sector up 0.5 percent.

Shares of Suncor Energy (SU.TO: Quote), Canada's biggest oil company, jumped 1 percent to C$34.20, while EnCana Corp (ECA.TO: Quote), the country's largest natural gas producer, gained 0.3 percent to C$32.07.   Continued...