CANADA STOCKS-TSX edges higher as oils gain, banks weigh

Tue Apr 20, 2010 5:35pm EDT
 
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* TSX gains 0.09 percent to 12,113.53

* Oil price rebound lifts energy shares

* Financials and materials key decliners

* Bank of Canada sets stage for rate hike (Adds comments, details)

By Ka Yan Ng

TORONTO, April 20 (Reuters) - Toronto's main stock index closed higher for a second straight session on Tuesday as a rebound in the price of oil sent the hefty energy group higher.

But declining financials and materials, two of the index's weightiest sectors, kept the gains in check after the Bank of Canada made its clearest signal yet that it may raise interest rates as soon as June, while the price of gold pared gains. [ID:nN20257669] [GOL/]

The energy sector jumped 1.16 percent as oil snapped its three-day decline to rise above $83 a barrel as some European flights resumed after the threat from volcanic ash from Iceland receded. [O/R]

Shares of Suncor Energy Inc (SU.TO: Quote), Canada's largest oil company, rose 0.59 percent to C$34.25, while Husky Energy (HSE.TO: Quote) rose 2.24 percent to C$29.72. Talisman Energy TLM.TO gained 3.96 percent to C$17.33.   Continued...