June 7, 2016 / 2:43 PM / in a year

CANADA STOCKS-TSX extends 9-month high as energy stocks rise with oil

(Adds details from early trade, updates prices)

* TSX up 50.35 points, or 0.35 percent, at 14,326.51

* Seven of the TSX’s 10 main groups rise

TORONTO, June 7 (Reuters) - Canada’s main stock index extended its recent run to a more than 9-month high on Tuesday as oil and gas stocks jumped with buoyant crude prices and heavyweight financial stocks also rose.

The overall gains were capped by a sharp fall in shares of Valeant Pharmaceuticals International Inc.

Valeant’s stock fell 19.6 percent to C$29.76 after the embattled drug company missed quarterly profit estimates on weakness in its dermatology business and cut its full-year earnings and revenue forecast.

Still, at 10:10 a.m. EDT (1410 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 50.35 points, or 0.35 percent, at 14,326.51. That was its highest level since mid-August.

Seven of the index’s 10 main groups were in positive territory, with seven rising stocks for every three decliners.

The most influential gainers included Royal Bank of Canada , which rose 0.6 percent to C$79.82, and Toronto-Dominion Bank, which also added 0.6 percent, to C$57.69.

Pipeline operator Enbridge Inc advanced 1.6 percent to C$54.64 and Suncor Energy Inc added 1.6 percent to C$36.40. The overall energy group, which accounts for almost 20 percent of the index’s weight, climbed 1.7 percent.

Oil prices hit their highest in eight months, buoyed by the U.S. dollar nearing one-month lows and by falling Nigerian oil output after a spate of attacks on infrastructure.

The financials group, more than one third of the index’s weight, gained 0.5 percent.

Canadian National Railway Co was up 0.2 percent at C$77.20 after announcing its CEO would step down for medical reasons. (Reporting by Alastair Sharp; Editing by Phil Berlowitz)

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