CANADA STOCKS-Energy stock gains lead rising TSX on higher oil

Mon Apr 10, 2017 4:54pm EDT
 
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(Adds portfolio manager comment, updates prices to close)

* TSX ends up 63.66 points, or 0.41 percent, at 15,730.79

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

By Alastair Sharp

TORONTO, April 10 (Reuters) - Canada's main stock index ended higher on Monday, with energy stocks leading broad gains as the price of oil rose.

The heavyweight energy group climbed 1.6 percent, with Canadian Natural Resources Ltd adding 1.6 percent to C$45.31 and Encana Corp up 3 percent at C$16.02, as a shutdown at Libya's largest oilfield and political tensions in the Middle East supported prices.

"In terms of valuations, the Canadian (energy) names look fairly attractive versus U.S. peers," said Manash Goswami, portfolio manager at First Asset Investment Management Inc.

He said U.S. investors might be wary about a possible U.S. border adjustment tax on Canadian oil imports, which he said he thought unlikely to materialize.

The Toronto Stock Exchange's S&P/TSX composite index settled up 63.66 points, or 0.41 percent, at 15,730.79. Eight of its 10 main sectors gained, with financials and technology groups barely lower.   Continued...