December 24, 2009 / 4:27 PM / in 8 years

CANADA STOCKS-TSX higher on stronger resource issues

 * TSX rises 0.28 pct to 11,691.71
 * Goldcorp up after boosting Canplats offer  (Adds details, comments)
 By Irene Kuan
 TORONTO, Dec 24 (Reuters) - Toronto’s main stock index edged higher on Thursday morning, as stronger metal and gold prices boosted the resource-heavy index, which also got a lift from a mix of energy and financial issues.
 Goldcorp (G.TO) topped the list of influential gainers, climbing 1 percent to C$42.56 after it said it had raised its offer for Canplats Resources Corp <CPQ.V, matching an earlier bid from Fresnillo’s (FRES.L) Minera Penmont joint venture company. [ID:nN24183175]
 Iamgold (IMG.TO) rose 1.9 percent to C$16.77.
 Gold prices rallied over 1 percent on Thursday to around $1,100 an ounce as the U.S. dollar fell, while copper prices rose near 15-month highs. [GOL/][MET/L]
 “We’re seeing strong demands in metals in general,” said Steve Ibel, institutional equities trader at Beacon Securities, in Halifax, Nova Scotia.
 At 10:47 a.m. (1547 GMT), the S&P/TSX composite index .GSPTSE was up 33.01 points, or 0.28 percent, at 11,691.71.
 Oil prices, which climbed above $77 a barrel, also supported the index’s move higher. [O/R]
 Suncor Energy (SU.TO), rose 0.7 percent to C$37.40, while  EnCana Corp (ECA.TO), up 1.3 percent to C$34.30.
 Other influential gainers included Bank of Nova Scotia (BNS.TO), which rose 0.6 percent to C$48.55.
 Ibel said the upcoming Christmas and New Year holidays would keep liquidity limited in the markets.
 “Anything anybody is doing today is just basically doing rebalancing into the new year,” he said.
 The TSX will close for the Christmas and Boxing Day holidays at 1 p.m. on Thursday, reopening on Tuesday, Dec. 29. Markets will be closed again on Friday, Jan. 1.
  ($1=$1.05 Canadian)  (Reporting by Irene Kuan; editing by Rob Wilson)                                      

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