CANADA STOCKS-Oil rally helps energy stocks lead TSX higher

Thu Jan 28, 2016 10:38am EST
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(Adds details, updates prices)

* TSX up 112.41 points, or 0.91 percent, at 12,490.18

* Six of the TSX's 10 main groups rise

TORONTO, Jan 28 (Reuters) - Canada's main stock index gained on Thursday, with energy stocks riding a oil price rally as expectations rose that major producers may cooperate to cut output, while Bombardier Inc fell further into territory that risks index expulsion.

The energy sector climbed 3.9 percent as oil surged as much as 8 percent to above $35 per barrel, bouncing sharply away from a 12-year low set this month.

The most influential movers on the index included Canadian Natural Resources, which jumped 5.1 percent to C$29.09 and Suncor Energy Inc, which gained 3.2 percent to C$32.42. Pipeline operator Enbridge Inc advanced 2.3 percent to C$46.43.

At 10:12 a.m. EST (1512 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 112.41 points, or 0.91 percent, at 12,490.18.

Advancers were outnumbering decliners by almost 3-to-1, and six of the index's 10 main groups were in positive territory.

Bombardier fell 4 percent to C$0.95, heightening the risk it could be pushed out of major Canadian indices after it closed below C$1 on Wednesday for the first time in 25 years.   Continued...