September 10, 2009 / 8:33 PM / 9 years ago

CANADA STOCKS-TSX gets boost from commodities, Bank of Canada

* TSX rises 154.83 points to 11,155.00

* Energy and gold-miners headline rally

* Bank of Canada sees more growth in 2009 (Adds details, comments and official numbers)

By Frank Pingue

TORONTO, Sept 10 (Reuters) - Toronto’s main stock index closed higher on Thursday as a rally in oil and gold prices lured investors into the resource-heavy index while the Bank of Canada’s confidence in the economy also added support.

A statement from the Bank of Canada ahead of the market open predicted faster-than-expected growth in Canada this year in what was considered a mostly upbeat release. [ID:nN10390757]

But it was energy and gold-mining shares that did the bulk of the heavy lifting in the latest session, a move credited to oil prices that extended a four-day rally and a rise in gold to back above $990 per ounce.[O/R][GOL/]

The energy sector’s 2.4 percent gain was powered by shares of Suncor Energy (SU.TO), which rallied 3.9 percent to C$36.15, followed by Canadian Natural Resources (CNQ.TO), which rose 2.5 percent to C$67.87.

The materials group ended up 2.5 percent, a move aided by Barrick Gold (ABX.TO), which jumped 3 percent to C$40.99 and Goldcorp (G.TO), whose shares rose 3 percent to C$43.99.

“Basically worldwide, whether you’re looking at Europe or the United States, (equities) look like they’re fixing to break out of their recent trading range and Canada is just following along,” said Levente Mady, market strategist at Union Securities, in Vancouver.

“But I guess with the energy sector kind of leading the way here that’s certainly helping the Canadian market outperform a little bit.”

The S&P/TSX composite index .GSPTSE checked out of the session with a gain of 154.83 points, or 1.41 percent, at 11,155.00.

$1=$1.08 Canadian Editing by Jeffrey Hodgson

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