July 4, 2011 / 9:34 PM / 8 years ago

CANADA STOCKS-TSX touches near 1-mth high on Wall St catch-up

  * TSX up 85.62 points, or 0.64 pct, at 13,386.49
  * Firm commodity prices help support index
  * 9 of 10 index sectors stronger; energy drives gains
 By Trish Nixon
 TORONTO,  (Reuters) - Toronto’s main stock index rose for a fifth straight session to touch its highest point in nearly a month on Monday, playing catch-up with U.S. markets, which rallied on Friday when Canadian markets were closed.
 Volumes were low due to the U.S. Independence Day holiday. U.S. stocks jumped more than 1 percent on Friday on strong manufacturing data from the Institute of Supply Management (ISM) that eased concerns about slowing growth. [.N]
 “The U.S. had a terrific day (on Friday) bouncing off the strong ISM numbers,” said Barry Schwartz, portfolio manager at Baskin Financial Services.
 “Unfortunately we were closed and couldn’t participate in any of the fun. The doors were closed to us but they’re open today, and we are just playing catch up here.”
 Nine of the index’s 10 main sectors were higher, led by energy, which benefited from steady oil prices. [O/R]
 Suncor Energy (SU.TO) was the second most influential gainer on the index, up 1.83 percent to $38.49.
 The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE closed up 85.62 points, or 0.64 percent, at13,386.49.  (Reporting by Trish Nixon; Editing by Jeffrey Hodgson)                   

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