CANADA STOCKS-TSX notches biggest gain in 2 months as oil rebounds

Fri May 5, 2017 5:05pm EDT
 
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(Adds portfolio manager quotes, details on Great-West Lifeco; updates prices)

* TSX ends up 185.34 points, or 1.2 pct, at 15,582.04

* Index posts biggest gain since March 1

* All of the index's 10 main industry groups end higher

By Fergal Smith

TORONTO, May 5 (Reuters) - Canada's benchmark stock index notched its biggest advance in more than two months on Friday as commodity prices, especially oil, rebounded from losses earlier this week, while better-than-expected U.S. jobs growth boosted sentiment on Wall Street.

The Toronto Stock Exchange's S&P/TSX composite index ended up 185.34 points, or 1.2 percent, at 15,582.04, its biggest gain since March 1. It left the index nearly unchanged for the week after it posted on Thursday its lowest close in six weeks.

"The market is feeling a little bit more buoyant than it was for most of the week," said Peggy Bowie, senior trader at Manulife Asset Management. "We are seeing a bounce back in commodities."

U.S. crude oil futures settled up 1.5 percent at $46.22 a barrel, rebounding from five-month lows, on assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts to reduce a persistent glut.   Continued...