CANADA STOCKS-TSX rises as oil gains lift energy

Mon Apr 20, 2015 11:17am EDT
 
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(Updates market moves, adds Manulife comment)

* TSX up 32.51 points, or 0.21 percent, to 15,393.06

* Five of the index's 10 main groups in positive territory

By Solarina Ho

TORONTO, April 20 (Reuters) - Canada's main stock index rose on Monday as oil price gains helped oil and gas companies offset weakness in other sectors, while financials, another index heavyweight, also provided support.

Suncor Energy Inc and Enbridge Inc were among the most influential movers on the index. Suncor rose 1.0 percent to C$40.52, while Enbridge advanced 1.2 percent to C$65.6.

The overall energy group climbed 0.9 percent, helped by a 2.2 percent rise in U.S. crude prices to $56.95, and Brent crude, which added 1.0 percent to $64.1.

Philip Petursson, a portfolio advisory group analyst at Manulife Asset Management, said the group was seeing some residual moves from last week's crude price gains continuing.

"(Energy) hasn't been a big bet at this point," said Petursson, but he believes production will tighten in the second half of this year.   Continued...