September 29, 2009 / 8:28 PM / 9 years ago

CANADA STOCKS-TSX lifted to higher close by gold miners

 * TSX rises 56.27 points to 11,394.99
 * Second straight higher close for TSX
 * Gold-miners headline latest rally  (Adds details, comments and official numbers)
 By Frank Pingue
 TORONTO, Sept 29 (Reuters) - Toronto’s main stock index ended moderately higher on Tuesday as shares of gold miners rallied alongside prices for the precious metal, which was near $1,000 an ounce.
 Goldcorp (G.TO), the biggest contributor to the overall gain, rose 3.5 percent to C$43.28, followed by Barrick Gold Corp (ABX.TO), which ended up 2.8 percent at C$40.67.
 The rally in gold miners helped lift the index’s materials group 1.92 percent, the biggest gain of all the TSX index’s 10 sectors.
 “It’s definitely the gold stocks that have been the standout performers today as gold is still very close to the $1,000 per ounce level,” said Elvis Picardo, analyst and strategist at Global Securities in Vancouver.
 “But there was not much conviction in the move since there is just one session left for the quarter and so the buyers are just sticking to the sidelines for now.”
 The S&P/TSX composite index .GSPTSE finished the session up 56.27 points, or 0.5 percent, at 11,394.99. It was the TSX’s second straight higher close since it fell on Friday to its lowest level in nearly two weeks.
 ($1=$1.09 Canadian)  (Editing by Peter Galloway)                                      

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