CANADA STOCKS-TSX perks up as commodities rally; RIM drags

Fri Jun 25, 2010 4:35pm EDT
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*TSX up 37.67 points at 11,707.85

*Six of its 10 main groups higher

*RIM drops 11.5 pct after quarterly results (Updates to close)

By Claire Sibonney

TORONTO, June 25 (Reuters) - Toronto's main stock index climbed on Friday as strong commodity prices drove up its weighty resource sectors, offsetting a dive in the shares of BlackBerry maker Research In Motion RIM.TO.

Oil prices surged toward $79 a barrel on concerns that a tropical disturbance in the Caribbean Sea may develop into a storm and threaten Gulf of Mexico production. [O/R]

At the same time, gold prices rose on financial market uncertainty as investors awaited the outcome of the weekend summit of Group of 20 advanced and emerging economies in Toronto. [GOL/]

The energy sector rose almost 1 percent with Canadian Oil Sands Trust COS_u.TO gaining 1.4 percent to C$28.75, and natural gas major EnCana Corp (ECA.TO: Quote) adding 2.4 percent to C$34.03.

Gold producers were up 2.5 percent. Barrick Gold (ABX.TO: Quote) soared 3.3 percent to C$48.08 percent, and Goldcorp (G.TO: Quote) jumped 2.2 percent to C$47.10.   Continued...