CANADA STOCKS-TSX rebounds as energy shares advance with oil price

Wed Mar 11, 2015 4:49pm EDT
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* TSX up 97.44 points, or 0.67 percent, at 14,739.20

* Nine of 10 main index sectors advance

By Alastair Sharp and John Tilak

TORONTO, March 11 (Reuters) - Canada's main stock index rebounded from recent sharp declines on Wednesday as a jump in the price of Brent crude oil helped support shares of energy producers.

The index lost more than 3 percent in the previous three sessions as investors' bets on a U.S. Federal Reserve interest rate hike boosted the U.S. dollar and hit commodity prices. Canada is a major exporter of oil, metals and other commodities.

As Brent prices rose, shares in major Canadian producers followed, with Suncor Energy Inc up 1.4 percent at C$36.02 and Canadian Natural Resources Ltd adding 1.2 percent to C$36.81.

Crescent Point Energy gained 1.8 percent to C$28.21 after reporting a jump in production.

The recent losses on the Toronto stock market's benchmark TSX index had wiped out most of its gains this year.

"We had quite a shakeout yesterday, and it's all green today," said Adrian Mastracci, portfolio manager at KCM Wealth Management. "It's going to be volatile this year, from one day to another, from one month to another."   Continued...