June 6, 2016 / 2:48 PM / a year ago

CANADA STOCKS-TSX at highest since August as oil, metals prices support

2 Min Read

(Adds detail from early trade, updates prices)

* TSX up 51.93 points, or 0.37 percent, at 14,278.71

* Eight of the TSX's 10 main groups rise

TORONTO, June 6 (Reuters) - Canada's main stock index rose to a more than nine-month high on Monday as commodity price gains helped boost the index's heavyweight energy sector and base metal miners, although gold miners pulled back after last week's rally.

Oil prices hovered around $50 a barrel and the index's energy group climbed 1.6 percent. The most influential gainers included Suncor Energy Inc, which rose 1.1 percent to C$35.99, and Enbridge Inc, up 1.1 percent at C$53.72.

At 10:26 a.m. EDT (1426 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 51.93 points, or 0.37 percent, at 14,278.71.

That was its highest since Aug. 14, with the steady gains this year helped by oil's recovery from prices in the mid-$20s a barrel.

Prices for metals including zinc and copper also rose on Monday, while gold was flat after sharp gains late last week.

That left the index's overall materials group, which includes precious and base metals miners and fertilizer companies, up just 0.2 percent.

First Quantum Minerals jumped 7.8 percent to C$9.86. The diversified miner last week completed the sale of a nickel, copper and platinum mine in Finland and refinanced a credit facility.

Teck Resources Ltd advanced 5.1 percent to C$14.56 and Potash Corp gained 3.5 percent to C$22.47.

Barrick Gold Corp declined 2.2 percent to C$24.27, Goldcorp Inc lost 1.1 percent to C$23.39, and royalty company Franco Nevada Corp slipped 1.5 percent to C$88.78

Eight of the index's 10 main groups were in positive territory, with two advancers for every decliner. The two consumer categories were marginally lower.

U.S. crude prices were up 2.3 percent to $49.76 a barrel, while Brent crude added 2.1 percent to $50.69.

Gold futures rose 0.2 percent to $1,242 an ounce, while copper prices advanced 0.7 percent to $4,721.5 a tonne. (Reporting by Alastair Sharp; Editing by Meredith Mazzilli)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below