TORONTO, Aug 4 - Toronto's main stock index
cracked the 11,000-point level on Tuesday, its highest close in
10 months, boosted by commodity shares as the resource-heavy
market played catch-up with global stocks after Monday's
holiday in Canada. The index's energy sector advanced 3 percent despite
lackluster oil prices [ID:nSYD332175]. Top gainers in the oil
patch included Canadian Natural Resources (CNQ.TO), which rose
5.1 percent to C$68.06, and Petro-Canada (PCA.TO), up 4.9
percent to C$46.69. Metals prices strengthened on optimism about economic
recovery and helped push up the index's materials sector by 3
percent. Barrick Gold (ABX.TO) was up 3.4 percent at C$38.90,
while fertilizer producer Potash Corp of Saskatchewan (POT.TO)
climbed 2.4 percent to C$102.75. "It's a big catch-up day following the holiday," said Rick
Meslin, head of Canadian equities at UBS. U.S. stocks rose on Monday, with the S&P 500 index above
1,000 for the first time in nine months, as rosy manufacturing
data added to optimism about economic recovery. On Tuesday,
U.S. stocks edged higher, in part on stronger than expected
housing data. [ID:nN04159936] The S&P/TSX composite index .GSPTSE finished up 230.95
points, or 2.14 percent, at 11,018.10, its highest closing
level since Oct. 1. Nine of its 10 sectors were higher.
Utilities fell 0.1 percent. Canadian markets were closed for Civic Holiday on Monday,
when global stocks surged to a nine-month high as improved
economic data from the United States and China spurred appetite
for risk. ($1=$1.07 Canadian)
cracked the 11,000-point level on Tuesday, its highest close in
10 months, boosted by commodity shares as the resource-heavy
market played catch-up with global stocks after Monday's
holiday in Canada. The index's energy sector advanced 3 percent despite
lackluster oil prices [ID:nSYD332175]. Top gainers in the oil
patch included Canadian Natural Resources (CNQ.TO), which rose
5.1 percent to C$68.06, and Petro-Canada (PCA.TO), up 4.9
percent to C$46.69. Metals prices strengthened on optimism about economic
recovery and helped push up the index's materials sector by 3
percent. Barrick Gold (ABX.TO) was up 3.4 percent at C$38.90,
while fertilizer producer Potash Corp of Saskatchewan (POT.TO)
climbed 2.4 percent to C$102.75. "It's a big catch-up day following the holiday," said Rick
Meslin, head of Canadian equities at UBS. U.S. stocks rose on Monday, with the S&P 500 index above
1,000 for the first time in nine months, as rosy manufacturing
data added to optimism about economic recovery. On Tuesday,
U.S. stocks edged higher, in part on stronger than expected
housing data. [ID:nN04159936] The S&P/TSX composite index .GSPTSE finished up 230.95
points, or 2.14 percent, at 11,018.10, its highest closing
level since Oct. 1. Nine of its 10 sectors were higher.
Utilities fell 0.1 percent. Canadian markets were closed for Civic Holiday on Monday,
when global stocks surged to a nine-month high as improved
economic data from the United States and China spurred appetite
for risk. ($1=$1.07 Canadian)
