CANADA STOCKS-TSX firms as oil prices rise on Enbridge spill

Fri Sep 10, 2010 11:14am EDT
 
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*TSX up 21.49 points at 12,055.02

*Eight of 10 sectors higher (Adds details, commentary)

TORONTO, Sept 10 (Reuters) - Toronto's main stock index pushed slightly higher on Friday morning as energy shares rose with oil prices after Enbridge Inc reported another U.S. pipeline rupture and as the market digested murky signals emanating from Canada's August jobs report.

U.S. crude jumped $1 to top $75 after a leak on Thursday forced Enbridge (ENB.TO: Quote) to shut down the biggest pipeline supplying Canadian oil to refineries in the U.S. Midwest and to a key storage hub in Oklahoma. [O/R]

Enbridge was down 0.9 percent at C$52.40, while the index's energy sector gained 0.1 percent.

Suncor Energy (SU.TO: Quote), the country's biggest oil company, was up 0.8 percent at C$34.03, even though Alberta announced on Thursday it has laid nine charges against the company for waste-water violations. [ID:nN09211980]

On the data front, Canada's economy added 35,800 jobs in August, more than expected. But the unemployment rate rose slightly and the pace of job creation was slower than in the first half of the year. [ID:nN10243874]

BCE Inc (BCE.TO: Quote), Canada's biggest communications company, dropped 0.6 percent to C$32.65, after announcing it will to pay C$1.3 billion for the 85 percent of broadcaster CTV it does not already own. [ID:nN10251109]

The index's materials group rose 0.4 percent despite a decline in gold and copper prices. Barrick Gold Corp (ABX.TO: Quote) gained 0.9 percent at C$46.05, while Teck Resources (TCKb.TO: Quote) gained 1.3 percent at C$39.26. [MET/L] [GOL/]   Continued...