CANADA STOCKS-TSX climbs as energy, resources lead rebound

Thu Apr 23, 2015 4:35pm EDT
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(New throughout, updates prices and market activity to close, adds portfolio manager comment)

* TSX ends up 87.58 points, or 0.57 percent, at 15,392.35

* All ten of the index's key sectors ended higher

* Energy up 0.9 percent, materials jump 2 percent

By Alastair Sharp

TORONTO, April 23 (Reuters) - Canada's main stock index rose on Thursday, helped by gains among energy and resource stocks, which were bolstered by stronger commodity prices, as well as by a modest rise from the influential financials group.

Oil futures hit a 2015 high as Saudi Arabia kept up a bombing blitz in Yemen that has heightened fears about Middle Eastern supply.

But uncertainty in the outlook for oil prices has made some investors nervous about energy stocks, which make up a large chunk of the Toronto Stock Exchange's S&P/TSX composite index .

"No one can predict where oil prices are going to be in six months or a year. So for us, we're trying to pick companies that can withstand a period of lower prices for longer," said Bryden Teich, associate portfolio manager at Avenue Investment Management.   Continued...