CANADA STOCKS-TSX nears six-year high on stronger energy shares
* TSX up 50.42 points, or 0.34 percent, at 15,052.45 * All of 10 main index sectors advance * Energy shares follow oil prices higher By John Tilak TORONTO, June 16 (Reuters) - Canada's main stock index advanced to its highest in almost six years on Monday after violence in Iraq pushed up the price of oil, driving gains in the heavyweight energy sector. Investors followed news of Sunni insurgents seizing a mainly ethnic Turkmen city in northwestern Iraq on Sunday after heavy fighting. The benchmark index, which has climbed in 11 of the last 12 sessions, is up more than 10 percent this year. "There's still plenty of room for the Canadian market to keep running," said Gavin Graham, chief strategy officer at Integris Pension Management Corp. He expects strength in the financial and energy sectors to boost the index. The market also awaited U.S. Federal Reserve's commentary from a policy meeting on Wednesday about the direction of its bond buying program and the prospect of rising interest rates. The central bank will continue to monitor the market carefully and stay the course with its current plan of winding down its monetary stimulus program, Graham said. "You're going to see the Fed saying that they're going to stick to what they're doing." The Toronto Stock Exchange's S&P/TSX composite index was up 50.42 points, or 0.34 percent, at 15,052.45. It earlier hit 15,063.04, its highest level since June 19, 2008. All of the 10 main sectors on the index were higher. With the price of U.S. crude oil hovering above $107, shares of energy producers climbed 0.4 percent. Suncor Energy Inc gained 0.9 percent to C$46.77, and Enbridge Inc rose 0.7 percent to C$51.41. Financials, the index's most heavily weighted sector, added 0.4 percent, with Royal Bank of Canada advancing 0.4 percent to C$75.52 and Toronto Dominion Bank gaining 0.4 percent to C$54.38. (Editing by W Simon)
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