CANADA STOCKS-TSX higher as commodities gain; banks mixed

Mon Jan 25, 2010 11:07am EST
 
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* S&P/TSX composite up 0.36 percent to 11,383.77

* Mining, energy shares recoup some losses (Adds details, quotes)

By Claire Sibonney

TORONTO, Jan 25 (Reuters) - Toronto's main stock index was higher on Monday morning as commodity shares were lifted by climbing prices.

Miner Teck Resources (TCKb.TO: Quote), up 1.62 percent at C$39.40, was among the leading gainers. But financial stocks, still suffering from uncertainty over U.S. President Barack Obama's plan to rein in big banks, were mixed.

Royal Bank of Canada (RY.TO: Quote), Canada's biggest financial institution, fell 0.59 percent to C$52.57 percent, while Toronto-Dominion Bank (TD.TO: Quote) gained 0.84 percent at C$62.27.

Gold rose to around $1,100 an ounce in Europe on Monday as the U.S. dollar eased broadly and renewed physical and safe-haven buying helped support prices. [GOL/]

Oil prices slipped slightly to approach a one-month low near $74 a barrel on continuing signs of weak demand and concerns over the U.S. proposal to tighten bank trading rules. [O/R]

"(Monday's rise) could be a recognition that last week's selloff in commodities was overdone, but I wouldn't read too much into it just because the gains coming from each sector really aren't huge," said Gareth Watson, an equity advisor at ScotiaMcLeod.   Continued...