CANADA STOCKS-TSX posts record high as oil prices climb

Fri Feb 10, 2017 11:12am EST
 
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(Adds details throughout on stocks and sectors, updates prices)

* TSX up 87.25 points, or 0.56 percent, at 15,704.55

* Index breaches its 15,685.13 peak from September 2014

TORONTO, Feb 10 (Reuters) - Canada's main stock index rose on Friday to an all-time high on strengthening oil prices and hopes of business-friendly tax cuts in the United States, while a surge in domestic jobs suggested the country's economy was picking up.

At 10:40 a.m. ET (1540 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 87.25 points, or 0.56 percent, to 15,704.55, having breached its 15,685.13 peak from September 2014.

U.S. President Donald Trump's promise of a "phenomenal" tax plan has helped revive a post-election rally in stocks, with Wall Street also reaching record highs.

U.S. crude prices were up 1.8 percent at $53.95 a barrel after reports that Organization of the Petroleum Exporting Countries members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January.

Canadian Natural Resources Ltd climbed 1.3 percent to C$39.54, while the overall energy group gained 1.1 percent.

Cameco Corp rose 0.8 percent to C$14.35 even after it reported on Thursday a lower-than-expected quarterly profit, hurt by weak uranium prices.   Continued...