CANADA STOCKS-TSX reverses early loss as energy shares gain

Thu Apr 8, 2010 5:04pm EDT
 
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*TSX ends up 0.02 pct at 12,113.53

*Energy shares erase early decline

*Shoppers Drug Mart plunges almost 10 percent (Updates closing numbers, adds details)

By Ka Yan Ng and John McCrank

TORONTO, April 8 (Reuters) - Toronto's main stock index ended slightly higher on Thursday, rebounding from steep losses early in the session as oil prices climbed back from lows and optimism grew about the global recovery.

The main thrust of the bounce-back came from the index's heavily weighted energy sector, which ended up 0.6 percent..

Shares of Suncor Energy Inc SU.TO rose 2.1 percent to C$35.33, and Canadian Natural Resources CNQ.TO gained 1.3 percent to 61.67. U.S. crude ended down 49 cents at $85.39, but that was more than $1 off the day's low point.

Shares of Athabasca Oil Sands Corp ATH.TO, Canada's biggest initial public offering in more than a decade, fell 6.1 percent to C$16.90 in their debut on the Toronto Stock Exchange, below their pre-market price of C$18. [ID:nN08142063]

Gold prices pushed above $1.150 an ounce, helping prop up the index's mining-heavy materials sector, which finished up 1.2 percent.   Continued...