3 Min Read
(Adds details on specific stocks, sectors; updates prices)
* TSX up 36.41 points, or 0.24 percent, at 15,516.54
* Half of the TSX's 10 main groups move higher
* Three rising stocks for every decliner
TORONTO, Jan 24 (Reuters) - Canada's main stock index rose on Tuesday as energy stocks broadly gained with higher oil prices and as TransCanada Corp got a boost from signs its Keystone XL pipeline could yet move forward.
TransCanada jumped 1.8 percent to C$63.66, closing in on an all-time high hit in 2014. U.S. President Donald Trump plans to sign executive actions on Tuesday to advance construction of Keystone and the Dakota Access pipelines, an administration official told Reuters.
If the pipeline is approved, it could provide a conduit for additional crude production in Canada's oil sands.
The energy group climbed 1.1 percent, as higher oil prices also helped boost sentiment.
Suncor Energy Inc, Canada's largest oil and gas producer, rose 1.0 percent to C$41.88. Seven Generations Energy Ltd advanced 5.1 percent to C$26.67 after providing a strategic update.
At 10:38 a.m. ET (1538 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 36.41 points, or 0.24 percent, at 15,516.54.
Half of the index's 10 main groups were higher, with three advancers for every declining stock.
The materials group, which includes precious and base metals miners and fertilizer companies, added 1.2 percent, as copper prices rose almost 2 percent and other base metals also gained.
Teck Resources Ltd gained 4 percent to C$33.26 and First Quantum Minerals Ltd added 3.5 percent to C$17.38.
Gold miners also gained despite a slip in bullion prices from late 2016 highs, with Barrick Gold Corp up 1.4 percent to C$23.98.
The heavyweight financials group was the biggest drag, slipping 0.5 percent, while railway stocks also retreated.
A planned EU-Canada free-trade deal, seen as a counterweight to anticipated U.S. protectionism under Trump, moved closer to reality after a key committee advised the European Parliament to give its backing after months of protests and heated debate.
Reporting by Alastair Sharp; Editing by Nick Zieminski