CANADA STOCKS-TSX pushes higher on golds, financials

Wed Nov 25, 2009 11:38am EST
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* S&P/TSX up 0.9 percent at 11,643.74 points

* Investors weigh mixed bag of U.S. economic data (Adds quotes, details)

By Irene Kuan

TORONTO, Nov 25 (Reuters) - Toronto's main stock index was higher on Wednesday morning, as red-hot gold prices boosted shares of resource issues, while financials were helped by mostly healthy U.S. economic data.

Gold prices surged to record highs above $1,180 an ounce, boosted by reports India may be interested in buying more bullion from the International Monetary Fund, and by a weaker U.S. dollar that fell against most major currencies [GOL].

No. 1 producer Barrick Gold (ABX.TO: Quote) was up 1.14 percent at C$46.09, while Goldcorp (G.TO: Quote) rose 0.87 percent to C$46.24.

Shares of Canada's Big Five banks were among the top influential advancers, led by Toronto-Dominion Bank (TD.TO: Quote), up 1.25 percent at C$67.82.

Bank of Nova Scotia (BNS.TO: Quote) rose 1.24 percent to C$49.85, while Canadian Imperial Bank of Commerce (CM.TO: Quote) rose 1.7 percent to C$69.27. Royal Bank of Canada advanced 0.5 percent to C$57.63.

Bank of Montreal (BMO.TO: Quote) gained 1.2 percent to C$53.79, after ending lower on Tuesday, despite a 16 percent gain in quarterly profit. Bank stocks ended mixed on Tuesday after an early rise, but garnered second thoughts on Wednesday. Other banks are due to report in the next two weeks.   Continued...