CANADA STOCKS-TSX climbs as energy shares rise with oil prices
* TSX rises 16.90 points, or 0.14 percent, to 12,348.75 * Six of 10 main sectors advance * Agrium up as boardroom battle heats up By John Tilak TORONTO, April 8 (Reuters) - Canada's main stock index climbed on Monday and snapped a five-day losing streak, boosted by shares of energy companies, which rebounded with the price of oil. The rise in energy shares, which account for about a quarter of the benchmark TSX index, helped the stock market begin to recover from its worst week in about 10 months. The index fell 3.3 percent last week, as a slew of negative economic news weighed on investors, particularly Friday data showing Canada posted its worst monthly jobs loss in more than four years in March. "People are nervous as the economy is slowing a little more than they would like to see it and you're not getting the employment numbers," said Irwin Michael, portfolio manager at ABC Funds. "The recovery is not taking off completely," he added. "But we believe slowly but surely, the economy is turning the corner." The Toronto Stock Exchange's S&P/TSX composite index was up 16.90 points, or 0.14 percent, at 12,348.75. Six of the 10 main sectors of the index were higher. Energy shares advanced 0.5 percent as oil prices rebounded from an eight-month low. The materials sector, which includes mining stocks, was little changed as weakness in gold stocks was offset by gains in Agrium Inc. Shares of Agrium rose 1.7 percent to C$99.41 after activist shareholder Jana Partners LLC said two of its five candidates appeared to have garnered enough votes to join the fertilizer maker's 12-member board. Financials, the index's weightiest sector, gave back 0.2 percent. Royal Bank of Canada slipped 0.5 percent to C$59.34 after news that Canada is investigating a report the bank is using temporary foreign workers hired by an outsourcing company to effectively replace existing staff. In other company news, Bombardier Inc said its train unit signed an agreement with German engineering group Siemens AG SIEGn.DE to supply train components to state-owned rail operator Deutsche Bahn worth about 336 million euros ($438 million). Bombardier shares were up 2 percent to C$4.01 and helped the industrials group rise 0.4 percent.
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