CANADA STOCKS-TSX rises as oil prices jump, banks strengthen

Wed Jun 10, 2015 11:02am EDT
 
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(Adds comments and updates prices)

* TSX up 101.47 points, or 0.68 percent, at 14,919.18

* Energy and banking shares lead rise

By Alastair Sharp

TORONTO, June 10 (Reuters) - Canada's main stock index rose on Wednesday as oil and gas producers rallied on stronger crude prices, while financial stocks gained on higher bond yields.

At 10:32 a.m. EDT (1432 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 101.47 points, or 0.68 percent, at 14,919.18. Eight of the index's 10 main sectors rose and advancers outnumbered decliners by almost 6-to-1.

Among the most influential movers on the index were oil companies Canadian Natural Resources Ltd, which rose 1.5 percent to C$37.32, and Suncor Energy Inc, which advanced 0.8 percent to C$36.18.

The index's energy group climbed 1.5 percent as oil prices jumped on a drawdown in U.S. inventories. U.S. crude prices were up 2.2 percent at $61.46 a barrel, while Brent crude added 1.9 percent to $66.11.

Among rising financials, Toronto-Dominion Bank was up 0.5 percent at C$54.72, and Sun Life Financial Inc advanced 2.5 percent to C$42.62. The overall financials group climbed 0.7 percent.   Continued...