February 4, 2016 / 3:57 PM / a year ago

CANADA STOCKS-TSX rises with commodity prices, led by energy, mining

2 Min Read

(Adds details on energy, materials, railway and financial stocks, updates prices)

* TSX up 206.86 points, or 1.64 percent, at 12,799.88

* All 10 of the index's main groups were higher

TORONTO, Feb 4 (Reuters) - Canada's main stock index rose on Thursday as higher commodity prices helped lift energy and mining stocks, while railway stocks also saw strong gains.

A weaker U.S. dollar helped drive commodity markets higher for a second day, which supported the resource-linked market.

U.S. crude prices surged more than 2 percent and gold rose to a three-month high after expectations eased of a further rise in U.S. interest rates this year.

The most influential movers on the index included Canadian Pacific Railway Ltd, which rose 7.2 percent to C$170.50, and Canada's largest oil and gas company, Suncor Energy Inc , which advanced 3.6 percent to C$32.68.

Suncor reported a fourth-quarter operating loss and cut 2016 capital spending plans on Wednesday because of the collapse in global crude prices.

The overall energy group climbed 2.5 percent.

The materials group, which includes precious and base metals miners and fertilizer companies, added 4.0 percent. It included a 6.2 percent advance in Goldcorp Inc to C$18.18.

BCE Inc rose 1.3 percent to C$57.46. The telecom and media company reported an 8.5 percent drop in fourth quarter profit as it paid more to win wireless business, but raised its dividend by 5 percent and pointed to moderate revenue and earnings growth in 2016.

At 10:34 a.m. EST (1534 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 206.86 points, or 1.64 percent, to 12,799.88.

That left the index just short of a three-week high it reached on Jan. 29 at 12,822.13.

All 10 of the index's main groups were in positive territory.

The financials group gained 1.0 percent, including a 1.1 percent advance in Royal Bank of Canada to C$70.88.

The biggest drag on the market was Brookfield Asset Management Inc, which fell 0.8 percent to C$39.55. (Reporting by Fergal Smith; Editing by Bernadette Baum)

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