CANADA STOCKS-TSX higher on day and week as resources shine

Fri Aug 28, 2009 4:54pm EDT
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* TSX up 44.01 points, or 0.4 percent, at 10,977.97

* Index up 1.4 percent for the week

* Financials off 1.1 percent, cut into week's gains

* Scotiabank falls 3.6 pct; results beat forecasts (Adds details)

TORONTO, Aug 28 (Reuters) - Toronto's main stock index see-sawed on Friday but managed to end slightly higher as resource shares rose on commodity strength, overcoming weakness in the hefty financial group.

The big energy and materials sectors, which combined make up around 45 percent of the index's total weighting, gained momentum by mid-afternoon to pull the broader index higher after an uncertain early performance.

Gold touched $960 an ounce and oil settled higher at $72.74 a barrel, helping to lift the resource sectors.

The materials group was up 1.4 percent, while the energy group advanced 1.2 percent.

Influential names on the rise included Goldcorp (G.TO: Quote), up 2.6 percent at C$40.48, and Barrick Gold (ABX.TO: Quote), ahead 3.1 percent at C$38.73. EnCana Corp (ECA.TO: Quote) climbed 2.4 percent to C$58.45.   Continued...