CANADA STOCKS-TSX rises as oil gain boosts energy stocks, banks rise

Mon Sep 19, 2016 10:18am EDT
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* TSX up 63.18 points, or 0.44 percent, to 14,513.87

* Nine of the TSX's 10 main groups move higher

TORONTO, Sept 19 (Reuters) - Canada's main stock index rose on Monday as higher oil prices boosted the stocks of energy companies, while big banks also gained as investors bet that the U.S. Federal Reserve will hold rates steady this week.

The country's biggest banks were among the index's most influential gainers with Bank of Nova Scotia up 0.9 percent to C$70.56 and Toronto-Dominion Bank advancing 0.6 percent to C$57.53.

Insurer Manulife Financial Corp added 1.3 percent to C$18.27 and the overall financials group gained 0.7 percent.

At 9:54 a.m. EDT (1354 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 63.18 points, or 0.44 percent, to 14,513.87.

Nine of the index's 10 main groups were in positive territory, with only consumer staples slipping. Advancers were outnumbering decliners by more than 4-to-1.

The energy group climbed 0.8 percent as oil prices bounced back from multi-week lows, hauling up world stock markets and commodity-linked currencies, on hints that producers were close to reaching an output deal.

Canadian Natural Resources Ltd rose 1 percent to C$38.97 and Encana Corp was up 2.3 percent to C$13.17.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.6 percent, with diversified miner Teck Resources Ltd up 1 percent to C$24.35.

U.S. crude prices were up 1.6 percent to $43.71 a barrel, while Brent added 1.3 percent to $46.34. (Reporting by Alastair Sharp; Editing by Bill Trott)