CANADA STOCKS-TSX surges 2.5 pct as energy, golds rally

Thu Jun 25, 2009 4:32pm EDT
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* TSX jumps 254.92 points to 10,355.85

* Resources do bulk of heavy lifting

* TSX now up 0.66 percent on the week (Adds details, comments and official numbers)

By Frank Pingue

TORONTO, June 25 (Reuters) - Toronto's main stock index shot higher in a broad-based rally on Thursday as a rise in oil and gold prices lit a fire under the resource-heavy index and lifted it higher for the week.

The energy sector rose 4 percent to lead the rise as oil prices moved sharply to above $70 a barrel, given rebel attacks against oil facilities in Nigeria and worries that a glitch at at a Texas refinery could dent U.S. gasoline stockpiles. [ID:nSP191786]

Shares of Canadian Natural Resources CNQ.TO, the biggest driver behind the latest gain, ended up 5.9 percent at C$60.13, while Suncor Energy SU.TO rose 5.5 percent to C$35.17.

Barrick Gold Corp ABX.TO shares ended up 4.8 percent at C$40.60, helping steer the materials group to a gain of 3.61 percent as gold futures rose toward $940 an ounce.

The S&P/TSX composite index .GSPTSE rose 254.92 points, or 2.52 percent, to 10,355.85.   Continued...