CANADA STOCKS-Strong resources push TSX 1 pct higher

Wed Jan 26, 2011 1:18pm EST
 
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TORONTO Jan 26 (Reuters) - Toronto's main stock index extended gains on Wednesday, rising more than 1 percent by midday on broad-based strength led by commodity issues.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 134.81 points, 1.02 percent, at 13,394.44. All 10 of the index's main groups were higher, with the energy sector firming 1.6 percent and materials up 1.8 percent.

Rising commodity prices supported the resource-laden index, climbing after U.S. President Barack Obama's call for spending cuts hardened views that the Federal Reserve will maintain its ultra-loose monetary policy. (Reporting by Ka Yan Ng; editing by Rob Wilson)