CANADA STOCKS-Oils help TSX rise for fifth straight day

Mon Jan 5, 2009 5:21pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Energy issues follow price of crude higher, lead index

* TD, National Bank announce preferred share issues

* Gold miners drag on materials group (Adds details)

By Ka Yan Ng

TORONTO, Jan 5 (Reuters) - Toronto's main stock index ended higher for a fifth straight session 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 energy movers. EnCana was up 4.5 percent at C$62.42, and Suncor rose 6.1 percent to C$27.40.

"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...