CANADA STOCKS-TSX heads higher on resources, U.S. data

Fri Jan 28, 2011 10:46am EST
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 * TSX climbs 0.36 percent to 13,458.32
 * Potash rises after series of analysts' upgrades
 * Consumer spending helps buoy U.S. economy in Q4
 (Adds details)
 By Ka Yan Ng
 TORONTO, Jan 28 (Reuters) - Toronto's main stock index
climbed broadly on Friday morning, led by rising energy and
materials shares and supported by bullish U.S. economic data.
 U.S. figures showed economic growth rose in the fourth
quarter as consumer spending accelerated. Also, consumer
sentiment got brighter in late January, the latest survey from
Thomson Reuters and the University of Michigan showed.
 At 10:27 a.m. (1527 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 48.12 points, or 0.36
percent, at 13,458.32. Seven of the index's 10 main groups were
higher, led by materials and energy.
 Gold-mining stocks reclaimed ground after a steep selloff
in the previous session and in spite of a softer price for
bullion. The index's materials group, home to the gold-mining
sector, was up 1.24 percent.
 Heavyweight gainers included Barrick Gold ABX.TO, up 2.15
percent at C$47.01, and Agnico Eagle AEM.TO, up 2.26 percent
at C$68.88.
 Other commodity-based issues were also advancers, with  
Suncor Energy SU.TO rising 1 percent to C$38.94.
 "Mostly two sectors are holding up the market, again on the
commodity front. Gold stocks are bouncing," said Francis
Campeau, broker at MF Global Canada, in Montreal.
 Fertilizer giant Potash Corp POT.TO was up 1.11 percent
at C$174.18 as a series of analyst upgrades followed strong
results and the announcement of a share split earlier in the
week. [RCH/CA]
 Shares of Zarlink Semiconductor Inc ZL.TO fell as much as
9 percent, a day after the Canadian chipmaker forecast
fourth-quarter results below market estimates. [ID:nSGE70R0C7]
 Angiotech Pharmaceuticals Inc ANP.TO said it will file
for bankruptcy protection under Canada's Companies' Creditors
Arrangement Act to cut $250 million of its debt. Its shares
were halted on the news. [ID:nSGE70R0BI]
 ($1=$1.00 Canadian)
 (Additional reporting by Claire Sibonney; editing by Peter