June 15, 2010 / 2:52 PM / 9 years ago

CANADA STOCKS-TSX gains broadly, resources support

* TSX advances 0.9 percent to 11,771.69

* All 10 sectors rise (Adds details)

TORONTO, June 15 (Reuters) - Toronto’s main stock index gained broadly on Tuesday aided by firm commodities and a growing appetite for riskier assets following solid demand at several euro zone debt auctions.

Higher commodity prices were influential to the resource-heavy index, with oil climbing above $76, while gold and base metals also firmed. [O/R] [MET/L] [GOL/] This pushed the energy group up 1.14 percent, while materials rose 0.6 percent.

Key advancers included Suncor Energy (SU.TO), up 1.7 percent at C$34.09, and Canadian Natural Resources (CNQ.TO), up 1.5 percent at C$37.82. Teck Resources TCKb.TO gained 1.5 percent to C$35.61, and Cameco (CCO.TO) added 1.55 percent to C$24.18.

“We’re bumping up against the top of the trading range again here. What’s working right today is oil and gas, base metals, some of the materials,” said Peter Chandler, senior vice-president at Canaccord Wealth Management in Waterloo, Ontario.

The main index rose more than 1 percent earlier to reach its highest in more than a week at 11,813.95 before paring gains. All 10 of the index’s main groups were on the rise.

At 10:15 a.m. (1415 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was up 104.35 points, or 0.9 percent, at 11,771.69.

The euro zone auction news eased short-term concerns about the region’s fiscal problems, helping to push world stock markets higher. [.N] [FRX/] [ID:nLDE65E0WQ] [ID:nWLA6316] [ID:nTAR001853]

Chandler said the market was going through a transition period, and that he was watching a number of factors.

“We’re ahead of the earnings season, and the market has that to look forward to. Some of the issues that are still out there in the background would include disappointing retail, consumer activity, disappointing job growth figures, and continuing uncertainty in the euro zone,” he said.

In individual company news, MDS Inc MDS.TO edged up 0.5 percent to C$8.63 after the Canadian health sciences company reported a wider second-quarter loss from continuing operations, hurt by a restructuring charge and foreign exchange revaluation losses. [ID:nSGE65E049]

Canadian Imperial Bank of Commerce (CM.TO), Canada’s No. 5 bank, gained 1.2 percent to C$73.53 the day after it said it agreed to buy Citigroup’s C$2.1 billion Canadian MasterCard business, becoming a dual credit card issuer. [ID:nN14238942]

($1=$1.03 Canadian)

Reporting by Ka Yan Ng;Editing by Mario Di Simine

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below