CANADA STOCKS-TSX closes higher, gains crimped by swing lower in oil price

Wed Dec 9, 2015 4:32pm EST
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(Adds quotes from portfolio managers, details, updates prices)

* TSX rises 15.12 points, or 0.12 percent, to 12,937.59

* Five of the TSX's 10 main groups gain

By Fergal Smith

TORONTO, Dec 9 (Reuters) - Canada's main stock index rose on Wednesday, a day after its weakest close in more than two years, although a swing lower in crude oil prices dampened gains for the resource-linked market.

"The market appears to be following oil," said Irwin Michael, portfolio manager at ABC Funds.

Oil prices fell for a fourth day in a row on Wednesday after the market ignored an unexpected drawdown in U.S. crude stockpiles to focus on a build in distillates.

U.S. crude prices settled at $37.16 a barrel, down 0.93 percent, while Brent crude added 0.1 percent to $40.29.

The energy group firmed 0.5 percent, helped by gains for pipeline companies, but closed well below session highs.   Continued...