CANADA STOCKS-TSX advances as higher oil price boosts energy stocks

Tue Sep 15, 2015 12:06pm EDT
 
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* TSX up 71.36 points, or 0.5 pct, at 13,424.70

* All 10 main sectors gain

By Alastair Sharp

TORONTO, Sept 15 (Reuters) - Canada's main stock index gained half a percent by midday on Tuesday, lifted by a rise in energy companies in the wake of a moderate rise on the price of crude oil.

Caution remained a dominant theme on global markets, with investors waiting to see if the U.S. Federal Reserve will hike interest rates for the first time in nearly a decade following a policy meeting later in the week.

That presents a buying opportunity for those who are confident that the neighboring North American economies will improve in the second half of the year.

"We're taking advantage of the market correction to put cash to work," said Barry Schwartz, portfolio manager at Baskin Financial Services. "I'm like a kid in a candy store. In my opinion the problem is my mommy has only given me a dollar to spend."

At 11:48 a.m. ET (1548 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 71.36 points, at 13,424.70. All ten of the index's main groups were in positive territory.

The index had hit a peak above 15,500 points in April.   Continued...