CANADA STOCKS-TSX edges up as resource prices rise

Mon Mar 29, 2010 10:36am EDT
 
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*TSX up 22.47 points to 11,981.09

*Energy, materials sectors lead index higher (Adds details, quotes)

By Claire Sibonney

TORONTO, March 29 (Reuters) - Toronto's main stock market index edged higher on Monday morning as rallying oil, gold and base-metal prices propped up the resource-heavy index.

U.S. crude futures rose more than $2 as a weaker greenback and stronger equities markets helped lift prices, sending the index's powerhouse energy sector up more than 1 percent. [O/R]

Shares of Suncor Energy Inc SU.TO, Canada's largest oil company, were up 2.1 percent at C$31.50, while natural gas major EnCana Corp ECA.TO added 0.6 percent to C$30.54.

European and U.S. stocks gained as Greece launched a sovereign bond issue, easing concerns about the country's debt problems, while investors were optimistic about key U.S. jobs data later this week. [.N] [MKTS/GLOB]

"A healthy overseas market is spilling over into this market here," said Bruce Latimer, a trader at Dundee Securities.

Materials issues were up 0.5 percent as gold and copper prices firmed. [GOL/][MET/L]   Continued...