CANADA STOCKS-TSX rises with oil; energy stocks lead gains

Tue Apr 12, 2016 10:32am EDT
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(Adds details, updates prices)

* TSX up 62.35 points, or 0.46 percent, at 13,485.11

* Seven of the TSX's 10 main groups are higher

TORONTO, April 12 (Reuters) - Canada's main stock index rose on Tuesday, with energy stocks gaining as oil prices hit a 2016 high.

The most influential movers on the index included Suncor Energy Inc, which advanced 1.4 percent to C$36.08, and Canadian Natural Resources Ltd, up 2.3 percent to C$36.42.

The overall energy group climbed 1.5 percent as oil prices gained on hopes that a meeting of producers would lead to steps to tackle a supply glut. The sector also benefited from a weak U.S. dollar and further signs of strong demand in China.

Canadian Pacific Railway Ltd also helped push the index higher, rising 2.5 percent to C$184.42 after its chief executive officer said cash once planned to acquire rival Norfolk Southern Corp could be used for a buyback, dividend, or combination of both.

At 10:06 a.m. EDT (1406 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 62.35 points, or 0.46 percent, at 13,485.11.

Seven of the index's 10 main groups were in positive territory, and advancers outnumbered decliners by roughly two to one.   Continued...