CANADA STOCKS-TSX rebounds on energy issues, Greek hopes

Thu Feb 16, 2012 12:49pm EST
 
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* TSX up 85.05 pts, or 0.7 pct, at 12,447.08

* Materials, energy issues lead gains

* U.S. data, Greek debt hopes lift sentiment

* Barrick Gold earnings weigh

By Jon Cook

TORONTO, Feb 16 (Reuters) - Toronto's main stock index bounced higher by midday Thursday, reversing early losses, as energy shares were lifted by rising oil prices and strong U.S. data, while optimism over a Greek debt deal offset softer than expected earnings by Barrick Gold.

Oil and gas producers pulled the index into positive territory after Brent crude prices climbed to $120 a barrel on Iran supply concerns and an expected drop in North Sea output.

Energy gains were led by Canadian Natural resources , which rose 1.3 percent to C$36.88. Cenovus Energy was up 1.4 percent at C$38.62 after Canada's No. 2 independent oil producer said on Wednesday its quarterly profit tripled on production gains.   Continued...