CANADA STOCKS-TSX rises on energy gains, RBC outshines peers

Tue Nov 3, 2015 4:56pm EST
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(New throughout, updates prices and market activity to close, adds portfolio manager comment)

* TSX ends up 87.30 points, or 0.64 percent, at 13,710.31

* Nine of the TSX's 10 main groups gain

By Alastair Sharp

TORONTO, Nov 3 (Reuters) - Canada's main stock index rose on Tuesday with lift from a move higher in Royal Bank of Canada after it avoided the need to set aside additional capital, and by solid gains in energy sector shares as oil prices jumped on supply disruptions.

The heavyweight energy group climbed 3.4 percent, with Cenovus Energy Inc leaping 5.6 percent to C$21.61 and Crescent Point Energy Co surging 6.8 percent to C$19.55.

"I believe you're seeing some portfolio managers tip-toe back into some of the beaten-up stocks in this sector that represent good, solid, long-term value," said Rick Hutcheon, president and chief operating officer at RKH Investments.

Pipeline operator TransCanada Corp added 0.5 percent to C$44.44 after asking the U.S. government to suspend a review of its controversial Keystone XL project.

The most influential gainer was Royal Bank of Canada , which gained 1.5 percent to C$75.75, compared to a 0.3 percent gain for the overall financials group.   Continued...