CANADA STOCKS-TSX rises on resource gains, nearing all-time high

Thu Jan 5, 2017 10:58am EST
 
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(Adds details on specific stocks, updates prices)

* TSX up 85.96 points, or 0.55 percent, to 15,602.71

* Index is less than 100 points from record high

TORONTO, Jan 5 (Reuters) - Canada's main stock index on Thursday extended a rally that brought it near to an all-time high, as resource stocks rose with higher commodity prices and financial shares pushed higher.

The most influential movers on the index included two of the world's largest gold producers, with Barrick Gold jumping 5 percent to C$22.90 and Goldcorp Inc up 3.3 percent to C$19.63 as gold prices touched their highest in four weeks. A slew of smaller gold miners also gained.

The materials group, which includes precious and base metals miners and fertilizer companies, added 2.9 percent.

The energy group climbed 0.2 percent as oil prices rose after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to lower global supply.

Penn West Petroleum Ltd advanced 3.3 percent to C$2.52 after it raised its 2017 capital budget and upped its production forecast.

The heavyweight financials group gained 0.3 percent, with Royal Bank of Canada rising 0.5 percent to C$93.33 and Toronto-Dominion Bank advancing 0.5 percent to C$67.97.   Continued...