CANADA STOCKS-TSX gains as higher oil, steady gold boost resource stocks

Fri Dec 16, 2016 4:47pm EST
 
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(Adds portfolio manager comment, details, updates prices to close)

* TSX ends up 33.89 points, or 0.22 percent, at 15,252.20

* Index falls 0.4 percent on week

* Four of 10 groups gain; energy up 0.5 pct, industrials 1.5 pct

By Alastair Sharp

TORONTO, Dec 16 (Reuters) - Canada's main stock index rose on Friday as higher oil prices boosted heavyweight energy stocks and gold miners recovered as the price of bullion steadied.

The most influential gainers included major energy producer Canadian Natural Resources Ltd, which rose 1.2 percent to C$44.70, and pipeline operator Enbridge Inc, which gained 2.5 percent to C$57.35.

Oil rose, edging closer to new 17-month highs after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.

"Oil's been like a yo-yo and I think that's what's been driving the TSX back and forth," said Barry Schwartz, vice president and portfolio manager at Baskin Financial Services.   Continued...