CANADA STOCKS-TSX rebounds, ends up, but energy stocks down again

Thu May 7, 2015 4:49pm EDT
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(Adds details, comment from Brough, closing market figures)

* TSX rises 64.93 points, or 0.43 percent at 15,088.82

* Eight of the index's 10 main groups advance

By Solarina Ho

TORONTO, May 7 (Reuters) - Canada's main stock index rose broadly on Thursday, reversing a retreat in early trading as resource stocks turned positive, but energy companies posted another round of heavy declines as crude prices sank.

The heavily weighted materials group, home to mining and other resource companies, finished 1.7 percent higher after rebounding from early losses. The sector has remained rangebound for much of the last two months, however.

"There's so much volatility in these sectors. Everyday is a good news/bad news day and as a result you get these wiggling around in prices without much overall direction," said Julie Brough, vice president at Morgan Meighen & Associates.

Potash Corp was among the most influential gainers, rising 2.5 percent to C$39.66. A number of gold miners also performed well, including Agnico Eagle Mines Ltd, which rose 3.2 percent to close at C$38.11.

The Toronto Stock Exchange's S&P/TSX composite index finished up 64.93 points, or 0.43 percent, at 15,088.82.   Continued...