(Updates throughout with analyst comment, market reaction)
* TSX up 142.65 points, or 1 percent, to 14,445.35
* Seven of the TSX's 10 main groups were higher
By Solarina Ho
TORONTO, Aug 10 (Reuters) - Canada's main stock index
rebounded on Monday from Friday's losses, rising more than 1
percent as key sectors like financials, energy, and materials
saw robust gains.
"It's a relief rally, truthfully," said John Stephenson,
President & CEO at Stephenson & Company Capital Management.
"Earnings have been decent, so that's a plus. So you've got
a little bit of a pick up in some of the commodities, though not
much. You had Shanghai and the Asian markets up overseas."
Four of the five biggest positive drivers on the TSX were
banks and insurers. The group, which make up roughly a third of
the index, climbed 1.1 percent, with Royal Bank of Canada
RY.TO rising 1.2 percent to C$77.27, and Toronto-Dominion Bank
TD.TO advancing 1.1 percent to C$52.97.
At 11:13 a.m. ET (1513 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 142.65 points, or 1
percent, to 14,445.35. The index touched a session high of
14,452.97.
Of the index's 10 main groups, seven made gains. Advancing
issues outnumbered declining ones on the TSX by 180 to 61, for a
2.95-to-1 ratio on the upside.
The materials group, home to mining companies, jumped 2.6
percent, while energy stocks added 1.9 percent as crude prices
bounced higher. ID:nL3N10L1B4
Canadian Natural Resources CNQ.TO was up 1.1 percent to
C$33.15.
Barrick Gold Corp ABX.TO jumped 6.6 percent to C$9.85,
while Goldcorp Inc G.TO rallied 4.1 percent to C$18.38.
Gold miners were helped by slightly higher bullion prices,
which found support around the $1,100-an-ounce level. Base metal
miners were aided by copper prices that rebounded from six-year
lows following stronger-than-expected imports from China,
despite otherwise disappointing economic data.
ID:nL3N10L34X ID:nL3N10L2SB
Despite Monday's gains, Stephenson expects the index to see
more volatility throughout August. "I think the forecast is for
more unsettled weather to come," he said.