CANADA STOCKS-TSX hits year-high as resource stocks gain

Mon Aug 8, 2016 10:18am EDT
 
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(Adds details on stocks and sectors; updates prices)

* TSX up 76.08 points, or 0.52 percent, to 14,725.94

* Six of the TSX's 10 main groups rise; energy stocks up 1.9 pct

TORONTO, Aug 8 (Reuters) - Canada's main stock index hit its highest level in more than a year on Monday as energy stocks jumped with rising oil prices amid improved risk sentiment.

At 10:08 a.m. EDT (1408 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 76.08 points, or 0.52 percent, to 14,725.94, its strongest point since July 17 last year.

The most influential gainers included its biggest energy companies, with Suncor Energy Inc advancing 1.2 percent to C$35.45 and Canadian Natural Resources up 1.8 percent to C$41.33. The energy group climbed 1.9 percent overall.

Oil rose after a report of renewed calls by some OPEC members to restrain output, but analysts warned the bearish fundamentals that brought prices to four-month lows last week still lurked.

The TSX's rise tracked other global stock markets as risk appetite revived following strong U.S. job figures that bolstered expectations of faster growth in the world's biggest economy.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.2 percent.   Continued...