CANADA STOCKS-TSX higher on stronger resource issues

Thu Dec 24, 2009 11:22am EST
 
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 * 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)