December 16, 2009 / 4:01 PM / 9 years ago

CANADA STOCKS-Oil and gold prices push TSX higher

 * TSX up 0.92 percent at 11,647.59
 * Oil prices above $71, gold higher  (Adds details and comments)
 By Irene Kuan
 TORONTO, Dec 16 (Reuters) - Toronto’s main stock index rose to its highest level in nearly two weeks on Wednesday as a rise in commodity prices helped boost energy and gold-mining shares.
 Barrick Gold (ABX.TO), the world’s biggest gold miner and the main contributor to the index’s gain, was up 2.6 percent at C$42.60, while Suncor Energy (SU.TO) rose 1.6 percent to C$37.83.
 “The focus up here is commodities are a little bit better. Canadian dollar is a little stronger. Gold and oil both stronger, and the gold sector in particular,” said Bruce Latimer, trader at Dundee Securities.
 Gold prices held above $1,130 an ounce on Wednesday, supported by U.S. dollar weakness after U.S. inflation data met expectations. [GOL/]
 Oil prices were up above $71 a barrel, extending gains after snapping a nine-day losing streak a day earlier. [O/R]
 At 10:20 a.m. (1520 GMT), the S&P/TSX composite index .GSPTSE was up 106.57 points, or 0.92 percent, at 11,647.59.
 Other heavyweight gainers on the index included Goldcorp (G.TO), up 1.8 percent at C$42.50, while oil company Canadian Natural Resources (CNQ.TO) rose 1.2 percent to C$71.04.
 ($1=$1.06 Canadian)  (Reporting by Irene Kuan; editing by Peter Galloway)                                      

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