CANADA STOCKS-TSX rises in broad rally to hit 2-week high

* TSX gains 0.93 percent to 11,672.84.

* All 10 sectors rise; 6 post gains of at least 0.9 pct
(Updates with details, commentary) (Read more stock market commentary today.

TORONTO, July 13 (BestGrowthStock) – Toronto stocks rallied on
Tuesday as heavyweight resource shares, supported by firm
commodity prices and renewed optimism over the global economic
recovery, helped the main index touch a two-week high.

U.S. earnings season got underway on Monday with Alcoa
Inc’s (AA.N: ) better-than-expected quarterly profit and
outlook, which is often seen as a bellwether of the U.S.
economy. The results helped to lift U.S. stock indexes as well.
[ID:nN13242453] [.N]

The Toronto Stock Exchange’s S&P/TSX composite index
(.GSPTSE: ) climbed 107.08 points, or 0.93 percent, to 11,672.84.
Earlier, it had reached its highest since June 28 at
11,695.56.

All of the index’s 10 sectors were higher, with six groups
up at least 0.9 percent.

John Ing, president of Maison Placements Canada, said some
of the earnings reports have given the market a much better
tone following a recent decline that was triggered by fears the
economy could fall back into recession, though he was cautious
about the move higher.

“It’s coming with lower volume so it’s not necessarily
happy days are here again,” he said.

Blackberry maker Research in Motion (RIM.TO: ) was among one
of the most influential advancers, up nearly 3 percent to
C$57.49, in a session where shares of rival Apple Inc (Read more about Apple stock future.) (AAPL.O: )
slid after a poor review for its iPhone 4 from an influential
consumer guide. [ID:nN13254388]

Ing pointed to news that RIM has been granted approval for
a common share repurchase program. [ID:nWNAB5061

Commodities were also influential, as the Thomson
Reuters-Jefferies CRB index (.CRB: ), a global benchmark of 19
different commodities including metals, was up more than 1
percent. Energy gained 0.97 percent and materials were up 0.27
percent in response.

Imperial Oil (IMO.TO: ) was up 1.6 percent at C$39.94, while
Teck Resources (TCKb.TO: ) climbed 1.34 percent to C$34.89.

Financials, which are often a play on the broader economy,
were also strong performers with a 1.31 percent rise. Bank of
Nova Scotia (BNS.TO: ) rose 2.77 percent to C$52.

($1=$1.03 Canadian)
(Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson)

CANADA STOCKS-TSX rises in broad rally to hit 2-week high