January 14, 2016 / 4:07 PM / in 2 years

CANADA STOCKS-TSX rises as rally in oil prices supports energy stocks

(Updates prices, adds details on energy, financial, consumer, industrial and mining stocks)

* TSX up 13.81 points, or 0.11 percent, to 12,183.59

* Seven of TSX’s 10 main groups rise

TORONTO, Jan 14 (Reuters) - Canada’s main stock index rose on Thursday after falling to a fresh 2-1/2-year low, as a rally in crude oil prices helped support energy stocks, while losses were unwound for financial stocks.

The index has fallen 6 percent in the first two weeks of 2016 as a deep slump in oil prices weighed on the resource-linked market. It fell 11 percent in 2015, its worst year since the global financial crisis of 2008.

Energy stocks rose 1.5 percent, helped by the rally in oil.

Enbridge rose 3.2 percent to C$44.20, while Canadian Natural Resources was up 1.7 percent at C$25.15.

U.S. crude prices were up 3.0 percent to $31.38 a barrel, while Brent crude added 1.8 percent to $30.86.

Financials were little changed as losses for heavyweight bank stocks were pared. Royal Bank of Canada fell 0.4 percent to C$68.90 and Toronto-Dominion Bank declined 0.5 percent to C$51.25.

At 10:42 a.m. EST (1542 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 13.18 points, or 0.11 percent, to 12,183.59. Seven of the index’s 10 main groups were in positive territory.

Magna International Inc fell 2.0 percent to C$50.64, reversing a good part of Wednesday’s rally when the company said it expected sales in its auto parts manufacturing business to rise about 15.7 percent this year.

Air Canada was down 7 percent at C$8.30.

Eldorado Gold Corp fell 0.8 percent to C$3.58. Greece has asked the miner to reverse its decision to halt much of its Greek mining operations and safeguard jobs as a condition for the two parties to continue talks on the country’s biggest foreign investment.

The overall materials group fell 1.8 percent. (Reporting by Fergal Smith; Editing by James Dalgleish)

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