CANADA STOCKS-TSX hits one-week high on oil, gold strength
* TSX rises 45.30 points, or 0.41 percent, to 11,071.20
* Gold climbs to record high, oil prices rise
* Fed holds rates steady near zero (Adds details, quote)
TORONTO, Nov 4 (Reuters) - Toronto's main stock index ended higher on Wednesday as strength in energy prices boosted oil and gas companies and a record high bullion price sent Barrick Gold (ABX.TO) and other miners higher.
Barrick rose 2.3 percent to C$42.94 and Kinross Gold (K.TO) finished the day up 3.8 percent at C$20.09 as the price of the precious metal hit a record high above $1,095 an ounce. [GOL/]
Oil company Nexen Inc (NXY.TO) was also a top gainer, rising 2.8 percent to C$24.42, while Suncor Energy (SU.TO) was up 0.5 percent at C$35.14 as the price of oil rose above $80 a barrel. [O/R]
"We're just seeing buying right across the board today. The commodities are acting well," said Bruce Latimer, trader at Dundee Securities.
The market was also heartened by the U.S. Federal Reserve's statement that it would keep its key interest rate near zero, while it expressed confidence that the U.S. economic recovery was gaining steam. [ID:nN04453484]
"The fact that the Fed has reiterated its commitment to keep rates low for an extended period has given confidence to market participants on both sides of the border," said Elvis Picardo, analyst and strategist at Global Securities in Vancouver.
Bank of Nova Scotia (BNS.TO) rose 0.6 percent to C$46.52, while insurer Manulife (MFC.TO) was up 1 percent at C$20.59. But the index's financial group ended the day flat, down 0.08 percent.
The S&P/TSX composite index .GSPTSE ended the day up 45.30 points, or 0.41 percent, at 11,071.20, with six of its 10 main groups higher.
Shares of Magna International Inc (MGa.TO) were up 10.1 percent at C$47.34 on Wednesday, a day after General Motors [GM.UL] reversed its decision to sell a majority stake in its European Opel unit to a Magna-led group. [ID:nN0416919]
Heavyweight names on the downside included Research In Motion (RIM.TO), which sank 3.9 percent to C$61.39, and Royal Bank of Canada (RY.TO), down 0.8 percent to C$54.24.
The blue chip S&P/TSX 60 index .TSE60 closed 1.34 points, or 0.2 percent, higher at 655.97.
($1=$1.06 Canadian) (Reporting by Jennifer Kwan; editing by Peter Galloway)
