May 20, 2011 / 8:55 PM / 8 years ago

REFILE-CANADA STOCKS-TSX advances for 5th day on energy, miners

(Refiles to correct date in first paragraph to May 20)

* TSX ends up 0.2 pct at 13,652.27

* Golds up as Greek debt woes boost bullion

TORONTO, May 20 (Reuters) - Toronto’s main stock index rose for a fifth-straight session on Friday, helped by energy issues and miners, as higher bullion prices gave a boost to gold producers.

Goldcorp (G.TO) was up 1.37 percent at C$47.50, Iamgold (IMG.TO) gained 1.95 percent to C$20.40, and Barrick Gold (ABX.TO) rose 0.45 percent to 44.38.

Gold prices jumped 1.5 percent on safe haven buying after Greece’s credit rating was cut by Fitch. [ID:nLDE74J0LV]

“Gold prices have rebounded quite strongly today, but the fact is that gold stocks have been lagging the rise in gold prices for months now,” said Elvis Picardo, an analyst and strategist at Global Securities in Vancouver.

“Gold stocks are certainly benefiting from renewed interest in some of the undervalued names.”

Junior producer Alacer Gold (ASR.TO) rose 5.67 percent to C$8.76 and Lake Shore Gold LSG.TO was up 5.56 percent to C$3.61.

Oil prices also rose, bouncing back from earlier losses, helped by a broad rise in commodity prices — the Reuters-Jefferies CRB index, which tracks a basket of 19 commodities, ended up 0.67 percent.

Encana (ECA.TO) was up 2.32 percent at C$32.60, while Bonavista Energy (BNP.TO) rose 1.98 percent to C$28.86.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE closed up 27.18 points, or 0.2 percent, at 13,652.27.

Seven of the index’s 10 main groups were higher. (Reporting by John McCrank; editing by Rob Wilson)

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