CANADA STOCKS-TSX pares some gains after posting a nearly 6-week high

Wed Apr 5, 2017 11:40am EDT
 
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(Adds details throughout on stocks and sectors and updates prices)

* TSX rises 14.24 points, or 0.09 percent, to 15,683.31

* Seven of the TSX's 10 main groups rise

TORONTO, April 5 (Reuters) - Canada's main stock index rose on Wednesday to a nearly six-week high, although some gains were pared as oil prices fluctuated after the release of U.S. inventory data, while lower gold prices weighed on some mining shares.

At 11:22 a.m. ET (1522 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 14.24 points, or 0.09 percent, to 15,683.31. It touched its highest intraday since Feb. 23 at 15,758.39.

Gains for the index came after solid private employment data underscored the strength of the U.S. economy, boosting financial stocks and helping calm investor jitters over President Donald Trump's ability to deliver on his policy plans.

Canada's heavyweight financial services group edged up 0.1 percent, with Royal Bank of Canada up 0.6 percent at C$97.42.

Suncor Energy Inc rose 1.3 percent to C$41.55, while the overall energy group was up 0.2 percent.

U.S. crude prices retreated from an earlier four-week high, down 0.1 percent at $50.99 a barrel, after data showed a surprise build in U.S. crude stockpiles.   Continued...