UPDATE 2-Toronto stocks get boost from oil, Talisman
(Updates closing numbers, add details, quotes)
*Index end slightly higher amid light volume
*Oils, materials edge higher, techs slide
*Talisman jumps after report of China interest
TORONTO, May 26 (Reuters) - The Toronto Stock Exchange's main index ended slightly higher in light volume on Monday as the energy sector pushed up amid gains by oil and a report that Talisman Energy TLM.TO could be an acquisition target.
Shares of Talisman climbed C$1.51, or 6.5 percent, to C$24.70 following a newspaper report that Chinese oil firm CNOOC Ltd (0883.HK: Quote) was considering a bid for the Canadian company or some of its assets.
"Talisman in our view has been an undervalued company," said Michael Sprung, president at Sprung & Co. Investment Counsel.
"We don't find it surprising that people might be taking a look at it -- it's got a very strong balance sheet, good properties and good prospects."
Overall, the energy sector was up 0.5 percent, as oil rose to around $133 a barrel after an attack on a pipeline in Nigeria, while long-term supply concerns remained. Continued...