CANADA STOCKS-TSX rises on energy, banks in short session

Thu Dec 24, 2009 1:40pm EST
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 * TSX rises 0.82 pct to 11,754.61
 * Energy, financial issues lead
 (Adds official closing numbers, comments)
 By Cameron French
 TORONTO, Dec 24 (Reuters) - Toronto's main stock index
ended a higher on Thursday, as stronger metals and energy
prices boosted the index's resource sectors, while financial
stocks rebounded from weakness in the previous session.
 "Commodities are better, and the U.S. dollar's a little
weaker," said  Bruce Latimer, a trader at Dundee Securities.
 "I think there's a little last-minute (stock) shopping
going on."
 The S&P/TSX composite index .GSPTSE ended the
holiday-shortened session up 95.91 points, or 0.82 percent, at
11,754.61, rising into the close.
 It was the fourth-straight day of gains for the index,
which has strengthened recently on the back of encouraging
economic data and strong resource prices.
 However, analysts warn not to read much into the market
activity, as pre-holiday trading volumes have thinned , while
fund managers have busied themselves rebalancing their
 The market closed early at 1 p.m. ahead of Christmas and
Boxing Day holidays, and will reopen on Tuesday, Dec. 29.
 Markets will be closed again on Friday, Jan. 1.
 All but one of the 10 TSX subgroups finished the session
higher, with the energy and financials subgroups providing the
biggest upward push, rising 0.98 percent and 0.95 percent,
 Oil prices climbed above $77 a barrel for the first time in
three weeks, helped by lower U.S. inventories.
 EnCana Corp ECA.TO drove the energy sector, rising 1.9
percent to C$34.49, while Bank of Nova Scotia BNS.TO helped
support financials, gaining 1.4 percent to C$48.95.
 Materials stocks rose 0.6 percent as both copper and gold
prices strengthened.
 Goldcorp G.TO rose 1.4 percent C$42.73 after raising its
offer for Canplats Resources Corp CPQ.V, and receiving
acceptance from the company.
  ($1=$1.05 Canadian)
 (Reporting by Cameron French; editing by Rob Wilson)