CANADA STOCKS-TSX lifted by Cenovus, energy stocks, in broad rally
* TSX up 150.84 points, or 1.1 percent, at 14,462.91 * Nine of the 10 main index groups rise * Energy sector up 2.4 percent, materials down 0.5 percent By Solarina Ho TORONTO, Oct 23 (Reuters) - Canada's main stock index was sharply higher on Thursday, propelled by a strong rebound in the energy sector, as it regained some ground after a steep drop the previous session that was spurred partly by a gunman's incursion into the Parliament buildings in Ottawa and the deadly shooting of a soldier. Energy stocks, which sold off on tumbling oil prices on Wednesday, were up 2.4 percent, and the index's top four heavyweight gainers were all oil and gas shares. Oil prices rose on stronger economic data from Europe and China. Cenovus Energy Inc, Canada's No. 2 independent oil producer, jumped 6.1 percent to C$27.86 after its quarterly results beat expectations. Canadian Natural Resources rose 2.7 percent to C$39.51. "The energy sector fell during the downturn, pressured by oil. Gold did well because it was the risk aversion play. You see it reversed as the markets rebounded back a little bit," said Sadiq Adatia, chief investment officer at Sun Life Global Investments. "That's what you're seeing in the marketplace. As long as the risk appetite is there, oil is probably going to be okay." The index's industrial sector, home to Canadian National Railway Co, climbed 1.8 percent. CN, Canada's biggest railroad, was up 1.7 percent at C$76.49. Canadian Pacific Ltd , the No. 2 railway, was up 1.8 percent at $225.24. At 10:59 a.m. (1559 GMT), the Toronto Stock Exchange's benchmark S&P/TSX composite index was up 150.84 points, or 1.1 percent at 14,462.91. The resource-heavy materials sector was the lone decliner among the index's 10 main groups. It dropped 0.5 percent on retreating gold-mining stocks. The TSX fell 1.6 percent on Wednesday, hit by falling crude prices and the events in Ottawa. Adatia said the slew of negative news on Wednesday provided an opening for those looking to sell, and that moves on negative news are likely be greater than reactions to positive news in the current market environment. Market fundamentals, however, are still positive, he said, with the economy generally headed in the right direction. ($1=$1.12 Canadian) (Reporting by Solarina Ho; Editing by Peter Galloway)
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