REFILE-CANADA STOCKS-TSX climbs 100 points on resource strength

Thu Nov 27, 2008 5:34pm EST
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(Refiles to insert dropped 'a' in first paragraph)

* Energy group higher despite oil price dip

* Nexen jumps 16.7 pct as takeover rumors emerge

* Materials up 3.4 percent as gold firms

* Trading muted with U.S. markets closed for Thanksgiving (Adds quotes, details)

By Jennifer Kwan

TORONTO, Nov 27 (Reuters) - The Toronto Stock Exchange's main index rose for a fifth straight day on Thursday thanks to strength in energy and materials issues, raising hopes that the market is close to finding a bottom.

Heavily weighted stocks that helped the market move higher included Potash Corp of Saskatchewan POT.TO, up 4.5 percent at C$79.69, and Nexen Inc NXY.TO, which was 16.7 percent higher at C$26.01.

Shares of Nexen soared as Canada's No. 4 independent oil exploration company again had to fend off speculation that it is poised to be bought by a larger rival. [ID:nN27403565]   Continued...