UPDATE 4-Toronto stocks charge higher on resource rally

Wed May 28, 2008 5:15pm EDT
 
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(Adds details, quotes)

* TSX jumps more than 1 percent as resources gain

* Energy sector gets boost from higher oil price

* Toronto-Dominion edges up despite profit slide

By Leah Schnurr

TORONTO, May 28 (Reuters) - The Toronto Stock Exchange's main index rallied on Wednesday, propelled by a rebound in resource issues as oil prices bounced back from an earlier retreat.

After a shaky start, the index rose more than 160 points, heartened by a rise in heavyweight energy shares, which added 1.4 percent.

Canadian Oil Sands Trust COS_u.TO was up C$2.09, or 4.3 percent, at C$51.21, while Canadian Natural Resources CNQ.TO put on 95 Canadian cents, or 1 percent, to C$98.89.

The resource-laden materials sector also gave support, rising 1.8 percent, with fertilizer producers Potash Corp of Saskatchewan POT.TO and Agrium AGU.TO rising C$6.51, or 3.4 percent, to C$195.50, and C$3.98, or 4.9 percent, to C$85.30 respectively.   Continued...