CANADA STOCKS-TSX rises, helped by banks, telcos, while uncertainty lingers

Thu Sep 3, 2015 5:28pm EDT
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(New throughout, updates prices and market activity to close, adds analyst comment)

* TSX ends up 51.16 points, or 0.38 percent, at 13,596

* Six of the TSX's 10 main groups rose

By Alastair Sharp

TORONTO, Sept 3 (Reuters) - Gains among banking and telecom stocks helped lift Canada's main stock index on Thursday, while a modest bump in the price of crude oil was not enough to lure investors back into the country's struggling energy sector.

Investor sentiment got a slight boost from data showing healthy growth in exports for a second straight month in July, although caution remains the underlying theme following last week's confirmation of a mild recession in the first half.

"People are picking away where they see some interesting opportunities outside energy, but otherwise there's a lot of playing around going on," said Brian Pow, an equity analyst at Acumen Capital Partners in Calgary.

He said the consensus view on when a recovery could take hold in the energy industry has pushed out to the middle to the end of next year.

The most influential movers included its biggest telecom companies, with BCE Inc rising 1.9 percent to C$53.85, Telus Corp advancing 1.8 percent to C$43.16, and Rogers Communications Inc adding 2.5 percent to C$44.70.   Continued...