CANADA STOCKS-TSX rebounds to end higher as oils rally

Thu Jun 3, 2010 4:56pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 31.20 points, or 0.26 percent, at 11,811.87

* Energy issues gain with crude futures

* Weak gold, base metal prices weigh

* Eight of 10 main groups end higher (Updates to close, adds details, quote)

By Claire Sibonney

TORONTO, June 3 (Reuters) - Toronto's main stock index ended higher on Thursday as energy issues rallied on the back of higher oil prices, but mixed investor sentiment meant the index see-sawed through another volatile trading day .

The energy sector climbed 1.8 percent after oil futures rose more than 2 percent, supported by much lower than expected crude and gasoline inventory data as the beginning of the summer driving season spurred gasoline demand. [O/R]

Heavyweight gainers included Canadian Natural Resources (CNQ.TO: Quote), up 2.9 percent at C$37.76, EnCana Corp (ECA.TO: Quote), 3.1 percent higher at C$34.94, and Enbridge Inc (ENB.TO: Quote), which rose 2.3 percent to C$49.06.

"It's a bit of a tug-of-war between the bulls and the bears right now," said Luciano Orengo, portfolio manager with MFC Global Investment Management. "It's huge volatility and with a lot of volume."   Continued...