CANADA STOCKS-TSX rises more than 1 pct as energy soars on OPEC deal

Wed Sep 28, 2016 5:47pm EDT
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(Adds portfolio manager comments, details on OPEC deal and Bombardier; updates prices)

* TSX closes up 173.39 points, or 1.19 percent, at 14,731.43

* Eight of the TSX's 10 main groups end higher

By Fergal Smith

TORONTO, Sept 28 (Reuters) - Canada's main stock index rose more than one percent on Wednesday as energy stocks soared on a deal by major oil producers to limit output, while the financials and materials groups also gained ground.

Canadian Natural Resources Ltd jumped 6.9 percent to C$41.17, while Suncor Energy Inc advanced 4.1 percent to C$35.58 and the overall energy group was up 5.3 percent.

The OPEC news got investors excited as it will tighten up supply in the oil market, said Manash Goswami, portfolio manager at First Asset Investment Management Inc.

U.S. crude prices settled up $2.38 at $47.05 a barrel after sources told Reuters that the Organization of the Petroleum Exporting Countries struck a deal to limit crude output at its policy meeting in November.

The Toronto Stock Exchange's S&P/TSX composite index closed up 173.39 points, or 1.19 percent, at 14,731.43.   Continued...