CANADA STOCKS-TSX climbs as U.S. data, energy shares support

Wed Dec 3, 2014 10:55am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 130.93 points, or 0.9 percent, at 14,751

* Six of 10 main index sectors advance

* Energy shares jump 2.7 percent

By John Tilak

TORONTO, Dec 3 (Reuters) - Canada's main stock index advanced on Wednesday as positive U.S. economic data strengthened hopes for a solid recovery and higher commodity prices helped drive up shares of natural resource producers.

Investors also digested news that Royal Bank of Canada reported stronger quarterly profit, with gains at its core personal and commercial banking and wealth management businesses offsetting weakness at its capital markets arm. The stock was up slightly.

Figures released on Wednesday showed that U.S. private employers added jobs at a brisk pace in November.

Oil and gas shares have been pounded in recent weeks over concerns about increasing supply and sluggish demand. And last week's decision by the Organization of the Petroleum Exporting Countries to keep production steady sent oil prices and energy shares over the edge.

The heavyweight energy sector has lost nearly a third of its value since the middle of June, weighing sharply on the broader benchmark.   Continued...