August 4, 2009 / 8:50 PM / 10 years ago

CANADA STOCKS-TSX closes above 11,000, at 10-month high

 * TSX closes up 230.95 points, or 2.14 pct, at 11,018.10
 * Highest closing level since Oct. 1
 * Plays catch-up after Monday holiday in Canada
 * Energy, materials sectors lift broader index   (Adds official closing numbers, details, quotes)
 By Jennifer Kwan
 TORONTO, Aug 4 (Reuters) - Toronto’s main stock index cracked the 11,000-point level on Tuesday, its highest close in 10 months, boosted by commodity shares as the resource-heavy market played catch-up with global stocks after Monday’s holiday in Canada.
 The index’s energy sector advanced 3 percent despite lackluster oil prices [ID:nSYD332175]. Top gainers in the oil patch included Canadian Natural Resources (CNQ.TO), which rose 5.1 percent to C$68.06, and Petro-Canada PCA.TO, up 4.9 percent to C$46.69.
 Metals prices strengthened on optimism about economic recovery and helped push up the index’s materials sector by 3 percent. Barrick Gold (ABX.TO) was up 3.4 percent at C$38.90, while fertilizer producer Potash Corp of Saskatchewan POT.TO climbed 2.4 percent to C$102.75.
 “It’s a big catch-up day following the holiday,” said Rick Meslin, head of Canadian equities at UBS.
 U.S. stocks rose on Monday, with the S&P 500 index above 1,000 for the first time in nine months, as rosy manufacturing data added to optimism about economic recovery. On Tuesday, U.S. stocks edged higher, in part on stronger than expected housing data. [ID:nN04159936]
 The S&P/TSX composite index .GSPTSE finished up 230.95 points, or 2.14 percent, at 11,018.10, its highest closing level since Oct. 1. Nine of its 10 sectors were higher. Utilities fell 0.1 percent.
 Canadian markets were closed for Civic Holiday on Monday, when global stocks surged to a nine-month high as improved economic data from the United States and China spurred appetite for risk.
 ($1=$1.07 Canadian)  (Reporting by Jennifer Kwan; editing by Peter Galloway)                                      

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