CANADA STOCKS-Oil rally helps TSX reverse three-day skid

Tue Jun 9, 2015 4:54pm EDT
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(Adds portfolio manager's comment, updates prices to close)

* TSX up 74.38 points, or 0.5 percent, at 14,817.71

* Six of the index's 10 main sectors gain

* Oil and gas shares lead gainers, financials also rise

By Alastair Sharp

TORONTO, June 9 (Reuters) - Canada's main stock index halted a three-session skid on Tuesday as a jump in oil prices pushed up energy shares in a market otherwise eyeing an eventual U.S. interest rate hike and concerned about expensive stock prices.

Oil prices rose more than 3 percent as bullish investors ramped up bets for another weekly drop in U.S. stockpiles.

"The energy sector is leading the way today, helping keep the TSX positive and outperforming the U.S.," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners+ of Richardson GMP. "Oil prices have held up well post-OPEC meeting."

Among the most influential movers on the index were oil companies Suncor Energy Inc, which rose 2.3 percent to C$35.88, and Canadian Natural Resources, which gained 1.2 percent to C$37.00. The overall energy group climbed 1.8 percent.   Continued...