CANADA STOCKS-TSX rises as higher oil prices boost energy stocks

Thu Feb 23, 2017 10:42am EST
 
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* TSX up 17.87 points, or 0.11 percent, at 15,848.09

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

TORONTO Feb 23 (Reuters) - Canada's main stock index rose on Thursday as energy company stocks were boosted by gains in oil prices, while higher prices for bullion lifted shares of gold miners.

Supermarket chain Loblaw's advanced 2.1 percent to C$70.37 after reporting a sharp jump in profit and higher-than-expected revenue.

The energy group climbed 1.3 percent, as oil prices rose more than $1 a barrel after U.S. data showed a surprise decline in inventories, suggesting a global glut may be ending after moves by OPEC to cut production.

Suncor Energy Inc rose 1.1 percent to C$42.60 and Canadian Natural Resources Ltd also added 1.1 percent, to C$38.58.

Crescent Point Energy Corp advanced 3.5 percent to C$16.04, even as the company reported a bigger-than-expected quarterly loss as production fell about 6 percent.

Pipeline operator Enbridge Inc fell 1.1 percent to C$54.71. An outage on its Line 2A pipeline in Canada's Alberta will last about three weeks, the company said in a note to shippers seen by Reuters.

At 10:29 a.m. ET (1529 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 17.87 points, or 0.11 percent, at 15,848.09. Seven of the index's 10 main groups were in positive territory, with two advancers for every decliner.   Continued...