Talisman Energy shares rise 5 percent on Toronto exchange

Tue Oct 1, 2013 12:45pm EDT
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CALGARY, Alberta Oct 1 (Reuters) - Shares of Canadian oil and gas company Talisman Energy Inc rose 5 percent on the Toronto Stock Exchange on Tuesday, outperforming the rest of the sector, although analysts saw no clear catalyst for the climb.

The stock was up 5 percent at C$12.41 at midday, with trading volume at about 7.6 million. The 90-day average volume is 2.4 million.

The Toronto Stock Energy Index was up 1.1 percent.

Talisman spokeswoman Phoebe Buckland said there had been no news announcements from the company.

FirstEnergy Capital analyst Mike Dunn said the sharp move could be driven by technical trading, but he was unaware of any fundamental reasons for the rise. (Reporting by Nia Williams; Editing by Jeffrey Benkoe)