CANADA STOCKS-TSX rally fueled by rising commodity prices

Thu Apr 23, 2009 4:40pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX index up 130.35 points, or 1.4 percent, at 9,409.50

* Gold and energy shares lead rally

* Bullion rises above $900/oz, oil nears $50/barrel (Adds details)

By Ka Yan Ng

TORONTO, April 23 (Reuters) - Toronto's main stock index finished more than 1 percent higher on Thursday in a broad advance led by the energy and materials sectors, which were supported by rising commodity prices.

The price of gold rose above $900 on fund buying and a weak U.S. dollar, putting some shine on Canada's gold-mining stocks, including Barrick Gold (ABX.TO: Quote), which rose 2.68 percent to C$35.99. [ID:nLN83239]

Overall, the materials group, which is home to gold and other miners, rose 1.4 percent.

Energy shares gained 2.14 percent on strength in the price of crude oil, which neared $50 a barrel, while Suncor Energy's (SU.TO: Quote) better than expected quarterly results also helped power the rally. [ID:nLN617354]

Shares of Suncor rose 3.46 percent to C$30.49, while shares of Canadian Natural Resources (CNQ.TO: Quote), another key energy player and the top mover higher, were up 3.91 percent at C$58.80.   Continued...