CANADA STOCKS-TSX rises as higher oil prices lift energy

Thu Oct 27, 2016 5:04pm EDT
 
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(Adds portfolio manager quotes and details on world bond market, Canadian mortgage risk and Goldcorp and updates prices)

* TSX rises 26.19 points, or 0.18 percent, at 14,833.75

* Five of the TSX's 10 main groups end higher

By Fergal Smith

TORONTO, Oct 27 (Reuters) - Canada's main stock index rose on Thursday, led by the energy sector as oil rallied and a slew of oil and gas companies reported quarterly earnings, while financials also gained ground as bond yields rose.

The country's largest oil and gas producer, Suncor Energy Inc, was the most influential gainer, jumping 5.7 percent to C$41.61 after it reported better-than-expected third-quarter profit.

Cenovus Energy Inc rose 2.8 percent to C$20.72 even as it reported a steeper loss than expected and cut its 2016 exploration and production budget again.

The overall energy group climbed 1.8 percent as oil rose.

U.S. crude oil futures settled up 54 cents at $49.72 a barrel as commitments from Gulf OPEC members to cut production assuaged some lingering doubts in the market about cooperation from other producers.   Continued...