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Toronto stocks rebounded with the help of resurgent gold and energy issues on Friday to wrap up a volatile week with a 100-point gain after plunging 235 points in the previous session.
The Toronto Stock Exchange's S&P/TSX composite index finished up 100.14 points, or 0.98 percent, at 10,290.87. Volume was 264.6 million shares worth C$5.3 billion.
On the week, the index fell 1.89 percent. Prior to Friday's rally, the index was down 2.84 percent.
All but two of the TSX's ten main groups finished higher.
Gold miners jumped 6.1 percent as bullion rose $5.90 to $469.10 an ounce in New York on bargain-hunting and bullish sentiment.
A bomb scare near the US Capitol building in Washington helped drive gold up $4 after midday. The TSX quickly followed suit jumping 100 points after languishing around the unchanged mark.
Barrick Gold was up C$2.08, or 6.95 percent, at C$32.00, while Goldcorp was up C$1.93, or 9.38 percent, at C$22.50.
The broader materials group, in which golds are a subsector, saw a 3.13 percent gain.
A boost in oil prices helped give the energy sector a 1.41 percent lift, as Hurricane Wilma showed signs of hindering the recovery of US oil operations in the storm-battered Gulf of Mexico.
EnCana Corp, which has seen its stock see-saw over the last two sessions on take-over speculation, was up C$1.25, or 2.20 percent, at C$58.10. Imperial Oil Ltd gained C$6.65, or 6.87 percent, to finish at C$103.50.
"I believe the buying that we're seeing today is evidence that a lot of the investors believe the economy is still pretty strong, and once we see energy prices stabilise - and they seem to be doing that - then they're stepping in and taking advantage of some values," said Bryan Snelson, a vice-president and financial adviser at Raymond James.
The TSX's heavyweight financial sector was up 0.3 percent, while the tech sector was down 0.36 percent.
Research In Motion closed C$1.75, or 2.31 percent lower, at C$74.00.
A US appeals court on Friday denied a motion to stay a patent case against the company, bringing it closer to an injunction that could shut down its popular BlackBerry e-mail service in the United States.
Overall, market momentum was comfortably positive with 942 advancers against 508 decliners.
The blue chip S&P/TSX 60 index climbed 5.28 points, or 0.92 percent, to 580.42.
On Wall Street, the Dow Jones industrial average was down 65.88 points, or 0.64 percent, at 10,215.22 as Caterpillar Inc, one of the biggest manufacturers in the United States, posted disappointing quarterly earnings.
The Nasdaq composite index rose 14.10 points, or 0.68 percent, to 2,082.21 as Google's better than expected earnings report sent its shares up to record levels.
Looking ahead, Snelson said research reports indicate that North American markets could be range-bound for the foreseeable future, adding that the slew of upcoming corporate earnings will provide more direction.

Copyright Reuters, 2005

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