CANADA STOCKS-TSX rises with resource stocks as commodity prices gain

Wed Mar 25, 2015 10:30am EDT
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* TSX up 35.34 points, or 0.23 percent, at 15,116.60

* Six of 10 main index sectors decline

* Canadian Natural, Suncor are among most influential gainers

By John Tilak

TORONTO, March 25 (Reuters) - Canada's main stock index rose higher on Wednesday as a weaker U.S. dollar helped fuel gains in commodity prices, pushing up shares in the energy and gold-mining sectors.

Recent weakness in the U.S. dollar, which has been under pressure since the Federal Reserve released comments on its outlook for interest rates last week, has provided a boost to commodity prices. On Wednesday, the price of oil jumped 2 percent and the bullion price gained 0.5 percent.

The benchmark TSX, heavily weighted in natural resource stocks, was up for a fourth straight session and has gained about 3.3 percent since the start of the year.

"The energy sector is coming back in favor, the gold group is coming back in favor," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "There's a little less pessimism towards those sectors."

"It's tough to see the sentiment getting worse," he added.   Continued...