CANADA STOCKS-TSX ends higher as commodities offer support

Tue Jun 23, 2009 4:26pm EDT
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* TSX rises 62.54 points to 9,896.72

* Energy and gold-miners lead gain

* Manulife skid limits overall TSX move (Adds details, comments and official numbers)

By Frank Pingue

TORONTO, June 23 (Reuters) - A rise in commodity prices helped lead Toronto's main stock index to a higher close on Tuesday, but it could only reclaim a sliver of the previous session's plunge as economic uncertainty lingered.

Gold miners and oil companies were among the key drivers behind the market's gain as gold prices rallied off a six-week low while oil prices also rose.

The helped lift Barrick Gold Corp ABX.TO by 4.6 percent to C$38.37, while Goldcorp G.TO followed with a gain of 5.1 percent to C$39.53. The materials group, which is home to gold miners, led all sectors with a 4 percent rise.

Energy players in the mix included Suncor Energy SU.TO, which rose 3 percent to C$33.16, and Canadian Natural Resources CNQ.TO, which ended up 2.4 percent at C$56.01.

But the TSX, at one point down 106 points, was not able to muster up much of a gain as financials continued to stumble on Friday's news that insurer Manulife Financial MFC.TO received enforcement notice from the Ontario Securities Commission that found it failed to meet certain disclosure obligations in its segregated funds and variable annuity guaranteed products.   Continued...