CANADA STOCKS-TSX hits 11-month high as energy shares jump with oil

Tue Jul 12, 2016 11:01am EDT
 
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(Adds reference to poll, updates prices)

* TSX up 83.69 points, or 0.58 percent, to 14,445.57

* Nine of the TSX's 10 main groups rise

TORONTO, July 12 (Reuters) - Canada's main stock index rose on Tuesday, hitting its highest level since August, as shares in oil and gas producers jumped with higher crude prices and banking stocks also lent support.

Energy shares jumped 1.9 percent and financials added 0.75 percent, while gold miners were among the biggest weights.

The gains echoed Wall Street's record highs, partly fueled by Alcoa getting the U.S. earnings season off to a better-than-expected start.

At 10:29 a.m. EDT (1429 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 83.69 points, or 0.58 percent, to 14,445.57.

It rose as high as 14,470.75, its strongest since August 10, as political tensions eased in Britain and a weekend election victory by Japan's ruling coalition paved the way for more stimulus there.

Still, Canada's benchmark stock index will likely notch only minor gains by year-end, a Reuters poll found, as investors remain cautious about global growth, the U.S. election in November, and whether oil prices will hold on to their recent strength.   Continued...