CANADA STOCKS-TSX rises as TD leads broad rally

* TSX up 89.43 points, or 0.68 percent to 13,282.71

* All 10 main sectors higher

* Toronto Dominion Bank up 2.98 percent at C$72.61

By Solarina Ho

TORONTO, Dec 21 (BestGrowthStock) – Toronto’s main stock index rose
on Tuesday as Toronto-Dominion Bank’s (TD.TO: ) purchase of
Chrysler Financial helped lift the broad market in light
trading as the holiday weekend approached.

TD was the most influential positive mover, with shares
climbing 2.98 percent to C$72.61. Canada’s No. 2 bank bought
Chrysler Financial from private equity firm Cerberus Capital
Management for $6.3 billion, joining the throng of Canadian
institutions expanding foreign operations. [ID:nN20216127]

The overall financial group was up 0.9 percent, with all
but one of the major banks advancing.

Energy stocks also made gains, rising 0.76 percent, as oil
prices rose for the third straight session. Cold weather,
forecasts of an inventory drop and expectations of greater U.S.
gasoline demand provided support.

Suncor Energy (SU.TO: ) was up 0.63 percent at C$36.87.
Encana Corp (ECA.TO: ) gained 0.95 percent at C$28.76. [O/R]

At midmorning, the Toronto Stock Exchange’s S&P/TSX
composite index (.GSPTSE: ) climbed 89.43 points, or 0.68
percent, to 13,282.71. All 10 of the TSX main sectors were

“The market is generally a little bit quieter across the
board here as we drift into the holiday weekend,” said Bruce
Latimer, a trader at Dundee Securities.

“For the most part, most people have done what they wanted
to do for the year and are quite happy to see things close
where they are.”

The influential materials group, home to miners, were up
0.39 percent as copper prices rose to a record high on supply
concerns. Teck Resources (TCKb.TO: ) rose 1.48 percent to
C$58.36. [MET/L]

Gold miners tempered gains and were among the few
decliners. Barrick Gold (ABX.TO: ) was down a modest 0.17 percent
at C$52.56 while Agnico Eagle (AEM.TO: ) fell 0.62 percent to
C$77.56. Gold prices were steady in Europe in holiday-thinned
trade. [GOL/]

“A lot of people’s books are closed, so you’re going to get
some gyrations inter-day and over the next few days,” said

($1=$1.02 Canadian)
(Reporting by Solarina Ho)

CANADA STOCKS-TSX rises as TD leads broad rally