TSX rallies more than 200 points led by resource stock gains

TORONTO — North American stock markets extended their rally, driven by strength across most key sectors — led by a big climb in resource issues.Toronto’s S&P/TSX composite index gained 221.09 points to close at 13,868.35, extending gains into a fourth straight session.Metals and mining stocks were by far the leading gainer, rising a stunning 11 per cent amid strong performances by both First Quantum Minerals (TSX:FM) and Teck Resources (TSX:TCK.B). First Quantum has outlined plans to reduce its debt while Teck announced a silver output deal.December gold lifted $2.30 to end at $1,148.70 an ounce and December copper added a penny to US$2.37 a pound.In New York, the Dow Jones industrial average rose 122.10 points to 16,912.29 after having been up more than 170 points in early trading. Meanwhile, the broader S&P 500 index gained 15.91 points to 1,995.83 and Nasdaq rose 42.79 points to 4,791.15.The Canadian dollar was down 0.22 of a U.S. cent at 76.54 cents US.