CANADA STOCKS-TSX pushes higher on oil rally

Tue Jun 9, 2015 11:21am EDT
 
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(Adds strategist's comment, updated prices)

* TSX up 20.38 points, or 0.14 percent, at 14,763.71

* Oil and gas shares lead gainers, but most sectors slip

By Alastair Sharp

TORONTO, June 9 (Reuters) - Canada's main stock index rose on Tuesday after a three-session drop as a jump in oil prices pushed up energy shares in a market that otherwise continued to slump.

Telecom and cable companies, supermarket chains, airlines, healthcare and industrial names were all lower in morning trading following a drop in Asian markets.

The Toronto Stock Exchange's S&P/TSX composite index , however, was up 20.38 points, or 0.14 percent, at 14,763.71 at 10:46 a.m. EDT (1446 GMT). Seven of its 10 main sectors were lower.

Oil prices rose more than 3 percent, with Brent touching $65 a barrel as higher seasonal demand in developed economies and expectations of falling U.S. shale production reduced the impact of a large global supply overhang.

U.S. crude prices were up 3.4 percent at $60.13, while Brent crude added 3.7 percent to $65.   Continued...