* TSX up 81.26 points at 10,629.12.
* Hits highest level since Oct. 14
* Gold-miners and energy lead rise (Adds details and comments)
By Frank Pingue
TORONTO, June 10 (Reuters) - Toronto’s main stock index was up nearly 1 percent on Wednesday morning as a rally in gold and oil prices offered support to the resource-heavy market.
The materials group, home to gold-mining shares, led all sectors with a 1.8 percent advance, while the energy sector followed closely with a 1.5 percent rise as U.S.-dollar priced commodities benefited from a slide in the greenback.
“The key thing here, though, is whether or not the upward momentum is being driven by fundamentals or just U.S. dollar weakness, and I would argue it’s the latter,” said Gareth Watson, Canadian equity advisor at ScotiaMcLeod.
“And I would feel much more comfortable from a fundamental perspective in terms of people buying the stocks if it was done more for fundamental reasons than just a currency basis.”
At 10:00 a.m. (1400 GMT), the S&P/TSX composite index .GSPTSE was up 81.26 points, or 0.77 percent, at 10,629.12. Earlier it rose to 10,674.14, its highest level since Oct. 14.
$1=$1.11 Canadian Editing by Peter Galloway