CANADA STOCKS-Oil shares lead TSX charge after Europe deal

* TSX soars 2.31 percent to 11,962.57

* All 10 sectors higher, led by energy and financials

* Gold producers fall as investors seek riskier assets
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By Ka Yan Ng

TORONTO, May 10 (BestGrowthStock) – Toronto’s main stock index
surged right out of the gate on Monday, led by its energy
group, after an emergency aid deal aimed at preventing Greece’s
debt crisis from spreading through the euro zone shored up
investor confidence.

Energy and financials rose 3.04 percent and 2.75 percent
respectively as a wave of relief swept through financial
markets worldwide. Crude oil rose above $77 a barrel, while
industrial metals prices bounced. [O/R] [MET/L]

Suncor Energy (SU.TO: ) rose 3.54 percent to C$33.05, while
Canadian Natural Resources (CNQ.TO: ) was up 3.1 percent at
C$74.24. Bank of Montreal (BMO.TO: ) advanced 2.8 percent to
C$C$60.61, while Toronto-Dominion Bank (TD.TO: ) rose 3.3 percent
to C$74.29.

At 10:15 a.m. (1415 GMT), the Toronto Stock Exchange’s
S&P/TSX composite index (.GSPTSE: ) was up 270.14 points, or 2.31
percent, at 11,962.57. It topped the 12,000 mark briefly.

The rise followed rallies in European and Asian shares and
a strong start for U.S. stocks (Read more about the stock market today. ) after the European Union and
International Monetary Fund agreed to a rescue package.

“It’s pretty difficult to figure out what the long term
effect of something like that is going to be, but initially,
it’s certainly a step in the right direction, strictly because
there’s just been so much speculation running rampant in the
last few days,” said Bruce Latimer, a trader at Dundee

All 10 groups of Toronto’s main index were higher, helping
to reverse some of last week’s steep losses, which had taken
the index to a negative position on the year. Monday’s early
gains pushed it back into positive territory.

The big materials group was also higher, up 0.72 percent,
but a broad retreat in gold producers ate into its gains.
Kinross Gold (K.TO: ) lost 1.9 percent to C$17.77, while Barrick
Gold (ABX.TO: ) fell 1.5 percent to C$44.02.

Other miners were on the rise, including Teck Resources
(TCKb.TO: ), up 6.3 percent at C$38.64. Fertilizer producer
Potash Corp (POT.TO: ) added 1.6 percent to C$106.19.

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($1=$1.03 Canadian)
(Reporting by Ka Yan Ng; editing by Peter Galloway)

CANADA STOCKS-Oil shares lead TSX charge after Europe deal