CANADA STOCKS-TSX rises for fifth day, oils lead way

Mon Jan 5, 2009 4:47pm EST
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* Energy issues follow price of crude higher, lead index

* TD, National Bank announce preferred share issues

* Gold miners drag on materials group

By Ka Yan Ng

TORONTO, Jan 5 (Reuters) - Toronto's main stock index ended higher for a fifth straight day on Monday, supported by rising energy shares, which climbed along with oil prices, and by a rally in financials.

The oil and gas sector climbed 3.3 percent as the price of crude rose above $48 a barrel, helped up by worries over the effects of Israel's attacks on Gaza and by Russia's dispute with Ukraine over natural gas prices.

EnCana ECA.TO and Suncor Energy SU.TO were among the biggest movers. Suncor jumped 6.1 percent to C$27.40, while EnCana was up 4.5 percent at C$62.42.

"Commodities in general are doing a little bit better, not just the energy, even some of the base metals are showing some signs of life, and the agriculturals are picking up a little bit," said Levente Mady, broker at MF Global Canada, in Vancouver.

"The main thing on the energy side there is the Israeli conflict and Russia cutting off supplies."   Continued...