CANADA STOCKS-TSX snaps seven-day skid on energy bounce

Tue Jul 28, 2015 4:44pm EDT
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(New throughout, updates prices and market activity to close, adds analyst comments)

* TSX ends up 75.99 points, or 0.54 percent, at 14,077.36

* Gain breaks 7-day slump; 9 of 10 main groups rise

By Alastair Sharp

TORONTO, July 28 (Reuters) - Canada's main stock index broke a seven-day slump on Tuesday as investors picked through earnings reports for glimmers of hope and resource stocks bounced off recent lows.

The energy sector has lost more than a quarter of its value since a peak in mid-April. It rose 2 percent on the day, as oil prices stabilized after a four-day slide.

Still, enthusiasm was in short supply.

"I don't think funds are aggressively buying or selling here," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "It's hard to get a sense of direction. Because we've come down a fair bit a lot of the bad news is priced into these stocks, the energy and the mining companies."

Cenovus Energy Inc gained 5.9 percent to C$18.26 and Suncor Energy Inc added 1.4 percent to C$33.18. Husky Energy Inc jumped 4.2 percent to C$23.52 after its quarterly report.   Continued...