CANADA STOCKS-TSX index climbs on U.S. data, firmer oil prices

Wed Jan 7, 2015 10:59am EST
 
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* TSX up 77.38 points, or 0.54 percent, at 14,324.15

* Nine of 10 main index sectors advance

* Suncor, Canadian Natural trade higher

By John Tilak

TORONTO, Jan 7 (Reuters) - Canada's main stock index advanced on Wednesday as positive U.S. economic data and firmer oil prices helped drive gains in most major sectors.

Separate data indicated a drop in the U.S. trade deficit to an 11-month low in November as well as gains in hiring by U.S. private employers in December.

The benchmark's rebound came after two straight sessions of sharp declines, when concerns about a global supply glut hit oil prices and shares of energy producers.

The price of oil was volatile on Wednesday and energy shares were higher.

"There's no question that oil has yet to find a bottom," said John Ing, president of Maison Placements Canada. "It's more of a trader's game than an investor's game."   Continued...