CANADA STOCKS-Resources lift TSX to five-month high

Fri Apr 24, 2009 5:06pm EDT
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*TSX index up 139.98 points, or 1.49 pct, at 9,549.48.

*Hits highest level since Nov, gains for 7th straight week

*Gold shines, lifts materials group 4.28 pct (Adds details and comments)

By Ka Yan Ng

TORONTO, April 24 (Reuters) - Toronto's main stock index rose to its highest level in more than five months on Friday, and scored its seventh straight week of gains, as rising oil and gold prices powered commodity-related issues higher.

The index's mining-heavy materials group rose 4.28 percent, with gold-mining issues supported by bullion prices that reached a three-week high, while fertilizer producer Potash Corp of Saskatchewan (POT.TO: Quote) rebounded from the previous session's drop. [ID:nLO625427]

Barrick Gold (ABX.TO: Quote) added 4.08 percent to C$37.46, building on the previous session's gains, while Goldcorp (G.TO: Quote) rose 3.96 percent to C$36. Potash Corp was up 4.2 percent at C$101.59, a day after it lowered its full-year outlook.

The energy group climbed 1.04 percent as the price of oil topped $51 a barrel. [ID:nSP416073]

The S&P/TSX composite index .GSPTSE finished up 139.98 points, or 1.49 percent, at 9,549.48. Seven of the index's 10 sectors were higher, with the financial group joining the other two big TSX sectors, materials and energy, on the plus side.   Continued...