CANADA STOCKS-TSX rises as higher oil price boosts energy producers
* TSX up 30.57 points, or 0.21 percent, at 14,721.40 * Energy, bank stocks lead rise, gold miners weigh By Alastair Sharp and John Tilak TORONTO, Nov 10 (Reuters) - Canada's main stock index rose on Monday as heavyweight energy producers were boosted by higher oil prices and financial stocks also gained, offsetting falls in major gold miners as bullion slipped. Fighting in Libya and Ukraine and a slip in the U.S. dollar helped Brent crude prices rise by $1 a barrel. That helped companies such as Canadian Natural Resources , which added 0.9 percent to C$41.20, and TransCanada Corp, up 0.5 percent at C$56.30. "The energy stocks are really the flavor of the day," said John Ing, president of Maison Placements Canada. "The rebound in oil and natural gas prices has given the group a little bit of an impetus. The group is very much technically oversold, so a bounce is not unexpected." Oil prices have fallen by almost 30 percent since June amid strong supply and weak global demand growth. BlackBerry gained 5.5 percent to C$12.60. The technology company's CEO told Reuters that it has completed the first phase of its two-year turnaround plan, is focused on profitability, and will not spread itself thin by attempting to launch too many new devices. The Toronto Stock Exchange's S&P/TSX composite index was trading up 30.57 points, or 0.21 percent, at 14,721.40 by mid-morning. On the negative side, a 1 percent slip in the price of gold flowed through to major miners, with Barrick Gold Corp down 3 percent at C$13.39 and Goldcorp Inc off 1.7 percent at C$22.28. Bank stocks helped support the gains, with Toronto-Dominion Bank added 0.6 percent to C$56.15 and Bank of Nova Scotia up 0.7 percent at C$67.94. (Reporting by Alastair Sharp)
© Thomson Reuters 2016 All rights reserved.