February 1, 2010 / 9:51 PM / 8 years ago

CANADA STOCKS-TSX surges as U.S. data spurs optimism

 * TSX up 218.30 points, or 1.97 percent, at 11,312.61
 * Biggest one-day percent gain since early December
 * Growth in U.S. manufacturing sector helps spur rise
 (Updates to close, adds quote)
 By Jennifer Kwan
 TORONTO, Feb 1 (Reuters) - Toronto's main stock market
index rose sharply on Monday, starting February on a solid
footing as U.S. manufacturing data helped fuel optimism about
economic recovery.
 Suncor Energy Inc SU.TO led all heavyweight gainers,
climbing 3.2 percent to C$34.84, while Barrick Gold ABX.TO
rose 4.5 percent to C$38.80. Potash Corp of Saskatchewan Inc
POT.TO rose 3.9 percent to C$110.07, and Goldcorp G.TO was
up 4.1 percent at C$37.71.
 The index climbed comfortably higher as U.S. factory data
provided further evidence of economic recovery. The U.S.
manufacturing sector grew more than expected in January, and
added to strong factory figures from China, Australia and the
euro zone. [ID:nWEN9407] [ID:nLDE6100W3]
 "We've got off to a good start on the back of manufacturing
report from three major regions that showed the global recovery
is pretty well positioned. That's really helped the big
turnaround in sentiment today," said Elvis Picardo, analyst and
strategist at Global Securities in Vancouver.
  The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE finished the day up 218.30 points, or 1.97 percent,
at 11,312.61, its biggest one-day percentage gain since Dec. 1.
All of its 10 main groups were higher.
  ($1=$1.06 Canadian)
 (Reporting by Jennifer Kwan; editing by Peter Galloway)

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