February 5, 2010 / 8:48 PM / 9 years ago

CANADA STOCKS-Golds help TSX fight back from 3-month low

 * TSX up 49.65 points, or 0.45 percent, at 11,178.41
 * Rally by gold miners boosts market; Barrick up 4.7 pct  (Adds details, quote)
 TORONTO, Feb 5 (Reuters) - Toronto’s main stock index crept back into positive territory on Friday afternoon after touching a three-month low, as steady bullion prices helped lift gold miners.
 Barrick Gold (ABX.TO) led the influential names on the upside, climbing 4.7 percent to C$38.17. Goldcorp (G.TO) rose 6.3 percent to C$37.81 and Agnico-Eagle (AEM.TO) climbed 6.5 percent to C$57.55, helped by steady gold prices XAU= at around $1,065 an ounce. [GOL/]
 Francis Campeau, broker at MF Global Canada, in Montreal also said investors were repositioning at the end of the week, given the recent selloff.
 “The move higher was done in such a swift manner it can’t be anything more, at this point, than a short squeeze,” said Campeau.
 “It’s all over the place. A lot of jitters, lots of volatility,” he said of the market action on Friday.
 At 3:33 p.m. (2033 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was up 49.65 points, or 0.45 percent, at 11,178.41. Earlier in the session, the index touched its lowest level since early November.  (Reporting by Jennifer Kwan; editing by Rob Wilson)                                       

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