February 1, 2010 / 9:51 PM / 9 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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