November 7, 2016 / 4:06 PM / 8 months ago

CANADA STOCKS-TSX rises with oil, banks; miners down as Clinton cleared

3 Min Read

(Adds details, updates prices)

* TSX up 113.08 points, or 0.78 percent, at 14,622.33

* Nine of the TSX's 10 main groups move higher

TORONTO, Nov 7 (Reuters) - Canada's main stock index rose on Monday, helped by energy stocks and banks as oil prices gained and the FBI cleared U.S. Democratic presidential candidate Hillary Clinton of wrongdoing over emails just ahead of the U.S. election.

Nine of the index's 10 main groups were in positive territory, with the materials sector, which includes precious and base metals miners and fertilizer companies, falling 1.7 percent.

Gold miners weighed heavily as bullion retreated on the news about Clinton, which is seen helping her in a tight race for the White House against Republican nominee Donald Trump.

Clinton is viewed by markets as a status quo candidate with more predictable policies than her Republican rival Donald Trump, a political novice. News favoring Clinton's presidential bid generally boosts global risk appetite.

The election is on Tuesday and the final result will be known on Wednesday.

At 10:35 a.m. EDT (1535 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 113.08 points, or 0.78 percent, at 14,622.33. Advancers were outnumbering decliners by more than 3-to-1.

The heavyweight financials group gained 1.1 percent. Toronto-Dominion Bank rose 1.1 percent to C$60.35 and Bank of Nova Scotia advanced 1.3 percent to C$71.91.

Other influential gainers on the index included Suncor Energy Inc, which rose 1.8 percent to C$39.84, and Canadian Natural Resources Ltd, which advanced 1 percent to C$40.53. The energy group climbed 1.7 percent.

Oil rose more than 1 percent, boosted by a commitment from OPEC to stick to a deal to cut output, although prices remained more than $7 below last month's high due to persistent doubts over the feasibility of the group's plan.

Magna International Inc gained 1.6 percent to C$121.75 after reaching a new tentative agreement with a union at one of the auto parts maker's plants after a short strike.

Air Canada jumped 7.1 percent to C$12.79 after the country's largest airline reported a better-than-expected quarterly profit and forecast lower costs for the current quarter.

Gold futures fell 1.4 percent to $1,285.6 an ounce.

Barrick Gold fell 5.4 percent to C$23.17 and Goldcorp Inc declined 4.1 percent to C$19.67. (Reporting by Alastair Sharp)

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