* TSX up 32.01 points, or 0.27 percent, at 11,728.64
* Barrick Gold, Potash Corp rally after results
* Four of TSX 10 main groups higher
(Updates figures to close and adds details)
By Jennifer Kwan
TORONTO (Reuters) - Toronto's main stock index
climbed Thursday, boosted by robust earnings from Barrick
Gold and Potash Corp, while insurer shares
rose on optimism about pending new rules on capital levels.
Barrick Gold, the world's No. 1 producer, rose 0.9 percent
to C$42.00 after it posted higher quarterly results on
record-high bullion prices. Eldorado, a smaller
Canadian rival, climbed 0.8 percent to C$16.53 after it said
its quarterly profit more than doubled.
Potash Corp of Saskatchewan, the world's largest producer
of potash, jumped 4.6 percent to C$106.39 after it reported a
quarterly profit that blew past expectations with a four-fold
rise in sales volumes offsetting lower prices for the crop
nutrient. Fellow potash producer Agrium rose 3.2
percent to C$64.62.
"Potash seems to be telling us that prices have bottomed.
Potash demand is going to increase year over year and they feel
confident enough to raise their guidance going forward. That's
really good news there," said Barry Schwartz, vice-president
and portfolio manager at Baskin Financial Services.
"We've had terrific earnings out of Potash, higher guidance
and a very strong move from Potash and Agrium," he said.
The Toronto Stock Exchange's S&P/TSX composite index
finished the session up 32.01 points, or 0.27
percent, at 11,728.64, with four of its 10 main sectors higher.
Also supporting the rise were shares of Manulife Financial
and Sun Life Financial, which rallied 4.3
percent and 3.5 percent, respectively, on a combination of
recovering stock markets and signs that pending new rules on
capital levels will be less cumbersome than had been thought
Like banks, insurers have been bracing for global
regulations on capital levels that aim to protect balance
sheets in the event of another market meltdown.
"The bottom line is it doesn't look like Manulife or Sun
Life will be required to have more capital than they have now,"
Schwartz said.
($1=$1.04 Canadian)
(Reporting by Jennifer Kwan; editing by Peter Galloway)


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