CANADA STOCKS-TSX rises as energy and Home Capital rally

Mon May 8, 2017 5:00pm EDT
 
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(Adds portfolio manager quotes and details on Canadian Natural Resources, CIBC and background and updates prices)

* TSX closes up 70.04 points, or 0.45 percent, at 15,652.08

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

* Energy group climbs 1.6 pct

* Home Capital Group Inc rallies 16.8 pct

By Fergal Smith

TORONTO, May 8 (Reuters) - Canada's benchmark stock index rose on Monday as energy stocks climbed after investors gauged the recent selloff had gone too far, while shares of Home Capital Group Inc recovered from a nearly 14-year low to end 16.8 percent higher.

It was the second straight session of gains for the Toronto Stock Exchange's S&P/TSX composite index after it had posted on Thursday its lowest close in six weeks. The energy group, which had slumped last week to its lowest since September, rose 1.6 percent.

"Investors think at this point maybe the market is oversold," said Brian Pow, vice president, research and equity analyst at Acumen Capital Partners.   Continued...