CANADA STOCKS-Energy, financials lift TSX at open

Thu Feb 19, 2009 10:36am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Energy issues lead rise, supported by higher crude price

* All 10 sectors rise, rebound from index's 3-day drop

* Rogers falls again, brokerages cut price target

* Obama's one-day visit to Canada in focus

TORONTO, Feb 19 (Reuters) - Toronto's main stock index rose broadly on Thursday morning, led by strong gains in the energy group as the price of crude climbed.

The heavily weighted energy sector, which helped push the TSX to its lowest level in 2009 in the prior session, was a big rebounder on Thursday, along with financials.

The index is making gains after three straight days of losses as the price of crude oil rose more than 5 percent to above $36 a barrel.

Much of the support came from the 3.2 percent gain in the energy group, with Suncor Energy (SU.TO: Quote) the most influential advancer, up 6.9 percent at C$23.73. The stock was upgraded by Barclays Capital. [ID:nBNG112489]

At 10:10 a.m. (1510 GMT), the S&P/TSX composite index .GSPTSE gained 111.26 points, or 1.36 percent, to 8,287.21. All 10 of the index's main groups were higher.   Continued...