November 25, 2009 / 9:39 PM / in 8 years

CANADA STOCKS-TSX jumps on record gold, upbeat U.S. data

 * TSX ends up 0.84 percent at 11,636.90
 * Gold price surge supports mining shares
 * EnCana the top gainer after shareholders approve split
 * U.S. data mixed, investors look on bright side
 By Ka Yan Ng
 TORONTO, Nov 25 (Reuters) - Toronto’s main stock index closed higher on Wednesday as a record high gold price and a turnaround in oil prices boosted resource issues.
 Gold prices surged above $1,180 an ounce on U.S. dollar weakness, while the price of oil settled near $78 a barrel on lower-than-expected builds in U.S. oil inventories. [GOL][O/R]
 World No. 1 gold producer Barrick Gold (ABX.TO) gained 1.47 percent to C$46.24, while Teck Resources TCKb.TO jumped 3.28 percent to C$37.48. Suncor Energy (SU.TO) gained 0.62 percent to C$38.94.
 EnCana (ECA.TO) shares topped the list of most active advancers, up 2.5 percent to C$57.36, after shareholders overwhelmingly approved a plan to split Canada’s No. 2 independent petroleum producer into independent oil and natural gas businesses. [ID:nN25354134]
 Market activity petered out at midafternoon as traders closed up positions ahead of the U.S. Thanksgiving holiday on Thursday, leaving the index with a stable gain after investors weighed a mixed bag of U.S. economic data.
 The market sided with upbeat U.S. October consumer spending and weekly labor data, embracing them as further signs of the strength of the economic recovery, and looked past an unexpected fall in durable good orders. [ID:nN25346193]
 “Good economic numbers in the U.S., good commodity numbers. Gold was strong again so that’s kept the Toronto market a little higher,” said Bruce Latimer, a trader at Dundee Securities.
 The S&P/TSX composite index .GSPTSE closed up 97.27 points, or 0.84 percent, at 11,636.90. Nine of its 10 sectors posted gains.
 ($1=$1.05 Canadian)  (Reporting by Ka Yan Ng; editing by Peter Galloway)  ((kayan.ng@thomsonreuters.com; Reuters Messaging: kayan.ng.reuters.com@reuters.net; 416-941-8109)) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report..........[.TO] Canadian dollar and bonds report....[CAD/][CA/] Top News: Canada ......[TOP/CAN] Today in Canada.......[CA/DIARY] Canadian company news .. [E-CAN] Reuters global stocks poll (Canada)...EQUITYPOLL5 [EPOLL/CA] FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide.......<CA/EQUITY> S&P/TSX Composite index ...............GSPTSE S&P/TSE Venture composite index .......SPCDNX TSX most active..........AV.TO Venture Exchange most active.............AV.V Top TSX pct gainers......PG.TO Top TSX pct losers.......PL.TO S&P/TSX 60 index ........TSE60 52 week highs:
 TSX...............t.YH.TO  Venture..............t.YH.V 52 week lows:
 TSX...............t.YL.TO  Venture..............t.YL.V Canadian dollar quote......CAD=CAD=D3=CAD FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS:   FTSE EUROTOP 300 ......FTEU3  EUROPEAN REPORT .......[.EU]   Nikkei 225..............N225  Tokyo report............[.T]   FTSE 100................FTSE  London report...........[.L]   Xetra DAX..............GDAXI  Frankfurt market stories[.F]   CAC-40...FCHI  Paris market stories...[.PA]   World Indices.......<0#.INDEX>   Foreign exchange........[FRX/]   Oil.......[O/R]   US Treasuries............[US/]   International bonds.....[EUB/]   Gold.........[GOL/X] or [GOL/]   CRB index of commodity futures.........[CRB/] 

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