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: Quote) by 4.6 percent to C$38.37, while Goldcorp (G.TO: Quote) 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: Quote), which rose 3 percent to C$33.16, and Canadian Natural Resources (CNQ.TO: Quote), 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: Quote) 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...