CANADA STOCKS-TSX rallies, led by financial and energy stocks

Thu Dec 10, 2015 11:31am EST
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* TSX up 125.18 points, or 0.97 percent, at 13,062.77

* All 10 of the TSX's main groups were higher

TORONTO Dec 10 (Reuters) - Canada's main stock index rose on Thursday, helped by gains in the financial sector, while energy shares rallied as crude oil prices trimmed losses after hitting a nearly seven-year low below $37 a barrel.

Financials were up 0.9 percent, including gains of 1.1 percent for Toronto-Dominion Bank to C$54.36 and 1.6 percent for Bank of Montreal to C$78.65.

Energy stocks rose 1.7 percent, led by a 2.1 percent gain for Suncor Energy Inc to C$36.12. Pipeline companies also advanced.

Cenovus Energy Inc rose 1.0 percent to C$18.87. The company said it expected to reduce its capital budget by 19 percent in 2016 in response to tumbling crude prices.

At 10:58 a.m. EST (1558 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 125.18 points, or 0.97 percent, at 13,062.77, with all 10 of the index's main groups in positive territory.

The materials group rose 1.1 percent, led by a 2.3 percent advance for Potash Corporation of Saskatchewan Inc to C$24.92.

Among the biggest drags on the index, Dollarama Inc fell 1.6 percent to C$80.41 after dropping more than 7 percent on Wednesday after reporting quarterly results.

U.S. crude prices were down 0.8 percent to $36.88 a barrel, having recovered from a nearly seven-year low of C$36.52 earlier in the session.

Brent crude lost 0.6 percent to $39.87. (Reporting by Fergal Smith; Editing by Lisa Von Ahn)