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TSX up amid higher commodities, bargain hunters buy up depressed resource stocks

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(Globalpost/GlobalPost)

TORONTO - The Toronto stock market registered a solid gain as traders snapped up stocks that were beaten down in value earlier this month.

The S

The advance came on top of a 1.3 per cent gain last week as bargain hunters stepped up after the index tumbled over two per cent in the previous week on signs of slower than expected growth in China and a big retreat in gold prices.

The Canadian dollar rose 0.51 of a cent to 98.85 cents US.

U.S. markets were also positive as the Dow Jones industrial average climbed 106.2 points to 14,818.75 amid reports showing rising consumer spending while pending home sales hit their highest level in three years. The Nasdaq composite index was up 27.76 points to 3,307.02 and the S

Oil ran up $1.50 to US$94.50 a barrel.

Note to readers: This is a corrected story: A previous version said Canadian GDP figures would be released Friday

http://www.globalpost.com/dispatch/news/the-canadian-press/130429/tsx-set-advance-amid-higher-commodities-optimism-ahead-key-d