December 9, 2010 / 3:23 PM / in 7 years

CANADA STOCKS-TSX rises on commodities, U.S. jobs data

 *TSX up 61.47 points, or 0.47 percent, at 13,213.47
 *Lululemon soars 16 percent after results  (Adds details, quote)
 By Jennifer Kwan
 TORONTO, Dec 9 (Reuters) - Toronto’s main stock index rose on Thursday morning, boosted by firmer oil and metals prices and upbeat U.S. labor market data that fueled optimism about economic recovery.
 Key sectors boosting the index included its hefty energy and materials groups, up 0.5 percent and 0.9 percent respectively. [GOL/] [MET/L] [O/R] Firmer commodity prices helped lift Canadian Natural Resources (CNQ.TO), which rose 1.3 percent to C$42.63, and Teck Resources TCKb.TO, up 1 percent at C$56.05. Barrick Gold (ABX.TO) climbed 1.1 percent to C$54.08.
 As well, new U.S. claims for unemployment benefits fell more than expected last week and the four-week moving average slipped to a two-year low, reviving hopes that a labor market recovery is under way. [ID:nN09222654]
 “There’s optimism there. I don’t think we’re out of the woods -- definitely not -- but the trend seems to be wanting to indicate that maybe we’ve seen the worst of it at this point,” said Serge Pepin, head of investments, BMO Investments Inc.
 At 10:00 a.m. (1500 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was up 61.47 points, or 0.47 percent, at 13,213.47, with nine of its 10 main sectors higher. The small healthcare sector shed 0.1 percent.
 Yoga-wear retailer Lululemon Athletica Inc LLL.TO (LULU.O) was the top net gainer, soaring 16.4 percent to C$65.26. It said net profit nearly doubled in its third quarter and it forecast more growth ahead. [ID:nN09219897]
 ($1=$1.01 Canadian)  (Reporting by Jennifer Kwan; editing by Peter Galloway)                                        

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