CANADA STOCKS-TSX reaches 1-wk high; investors assess Sandy hit

Tue Oct 30, 2012 2:51pm EDT
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* TSX rises 66.61 points, or 0.54 percent, to 12,379.36

* Financial, material stocks lead rally

* Relief among some investors storm damage wasn't worse

* Yamana climbs after maintaining production outlook

By John Tilak

TORONTO, Oct 30 (Reuters) - Toronto's main stock index rose on Tuesday, led higher by financial and energy stocks on lighter than usual volumes, as investors sought to gauge the impact of monster storm Sandy on the United States.

Sandy, one of the biggest storms to ever hit the country, left at least 18 people dead and caused significant power disruptions, though some market players had expected even more devastation.

"It's a pretty broad-based move. It reflects some relief that the storm hasn't caused as much damage as people had expected," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.

After opening lower, the Toronto Stock Exchange's S&P/TSX composite index was up 66.61 points, or 0.54 percent, at 12,379.36 by midafternoon.   Continued...