March 11, 2016 / 3:34 PM / a year ago

CANADA STOCKS-TSX rises with oil as energy stocks lead

2 Min Read

* TSX up 83.56 points, or 0.62 percent, to 13,462.70

* Eight of the TSX's 10 main groups rise

TORONTO, March 11 (Reuters) - Canada's main stock index rose on Friday as energy stocks gained on an oil rally and heavyweight financial stocks also moved higher, with the index tracking for a 1.9 percent weekly gain.

The energy group climbed 2.1 percent as crude prices were supported by an optimistic report from the International Energy Agency (IEA), saying the market may have reached its bottom.

Cenovus Energy Inc advanced 3.5 percent to C$17.18, Suncor Energy Inc gained 1.4 percent to C$34.76, and Canadian Natural Resources rose 1.5 percent to C$35.77.

The overall energy gain came despite an 8.6-percent fall to C$3.20 for Canadian Energy Services & Technology. It reported a loss on lower revenue and forecasting that 2016 would be even more challenging.

Other influential gainers included Canadian National Railway , which rose 1.1 percent to C$79.58, and insurer Manulife Financial Corp, which added 1.4 percent to C$18.49.

The financials sector gained 0.6 percent and industrials rose 0.9 percent.

At 10:08 a.m. EST (1508 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 83.56 points, or 0.62 percent, to 13,462.70.

Eight of the index's 10 main groups were in positive territory, with almost five gainers for every decliner and 13 stocks hitting fresh 52-week highs.

The index has gained steadily in recent weeks, with some investors questioning whether the gains are sustainable amid limp economic data and uninspiring corporate earnings.

The Canadian economy unexpectedly shed jobs last month, data from Statistics Canada showed on Friday.

The materials group, which includes precious and base metals miners and fertilizer companies, slipped 0.4 percent as gold miners pulled back from recent solid gains.

Barrick Gold Corp was off 0.6 percent at C$18.81 and Eldorado Gold Corp declined 3.7 percent to C$4.66. (Reporting by Alastair Sharp; Editing by Nick Zieminski)

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