January 18, 2010 / 9:37 PM / 9 years ago

CANADA STOCKS-TSX ends higher on stronger resource prices

* TSX ends up 0.56 percent at 11,750.54

* Materials, energy, financials lead rise

* Volume light with U.S. markets closed (Adds details)

TORONTO, Jan 18 (Reuters) - Toronto’s main stock index advanced on Monday for the first time in two sessions as energy and materials producers rose on the back of stronger commodity prices.

Raw material prices also got support from hopes for strong Chinese demand, which lifted global equities on Monday, while oil rallied above $78 a barrel, snapping a five-day losing streak. [MKTS/GLOB][O/R]

Among the index’s top gainers were Suncor Energy (SU.TO), up 0.79 percent at C$37, while Potash Corp POT.TO gained 1.1 percent to C$119.30.

The S&P/TSX composite index .GSPTSE closed up 65.17 points, or 0.56 percent, at 11,750.54. Volume was a fraction of its normal levels, with U.S. markets closed for the Martin Luther King holiday.

“With light volume and not a whole lot of conviction, there is no one shooting the lights out,” said Peter Chandler, senior vice-president at Canaccord Wealth Management.

Financials were also on the rise, after coming under pressure for the first two weeks of the year. Toronto-Dominion Bank (TD.TO) led all influential advancers, climbing 1.2 percent to C$64.10, while Manulife Financial (MFC.TO) was up 1.1 percent at C$20.54.

Six of the index’s 10 main groups were higher, with the three biggest sectors — materials, financials and energy — each up more than 0.6 percent.

$1=$1.03 Canadian Reporting by Ka Yan Ng; editing by Rob Wilson

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