CANADA STOCKS-TSX ends lower despite surge in energy shares

Mon Aug 31, 2015 5:21pm EDT
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(Adds strategist comment, updates prices to close)

* TSX ends down 5.95 points, or 0.04 percent, at 13,859.12

* Eight of the TSX's 10 main groups down; energy jumps

By Alastair Sharp

TORONTO, Aug 31 (Reuters) - A sharp jump in energy stocks as crude oil prices soared was not enough to push Canada's main stock index into positive territory on Monday.

The Toronto Stock Exchange's S&P/TSX composite index ended down 5.95 points, or 0.04 percent, at 13,859.12.

Slightly more issuers gained than declined, with oil and gas stocks claiming 18 of the top 20 spots among most influential gainers, while eight of the 10 main sectors retreated.

Oil prices surged for a third consecutive day on a downward revision of U.S. crude production data and OPEC's readiness to talk with other producers, pushing the sector up 3 percent.

"The fact that OPEC is going to get together and come up with a fair value for oil gave some boost to the market," said Sid Mokhtari, director for institutional equity research at CIBC World Markets.   Continued...