CANADA STOCKS-TSX jumps with oil, bound for first weekly gain in three

Fri Jan 22, 2016 10:43am EST
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(Updates prices)

* TSX up 323.28 points, or 2.69 percent, at 12,359.14

* All of the TSX's 10 main groups rise; energy jumps 5.8 pct

TORONTO, Jan 22 (Reuters) - Canada's main stock index bounced higher on Friday, with its oil and gas stocks leading a broad rally as oil prices surged, while banks, industrial and consumer stocks also rose.

The energy sector climbed 5.8 percent, with Suncor Energy Inc up 5.2 percent to C$31.31 and Canadian Natural Resources advancing 5 percent to C$26.07.

Crude oil jumped back above $31 a barrel, after earlier in the week touching $27, as a cold snap boosted demand for heating oil across the United States and Europe.

The most influential movers also included Canadian Pacific Railway, which rose 10 percent to C$164.87 one day after reporting a profit below expectations on lower freight volumes.

Industrials rose 4.3 percent, while the materials group, which includes precious and base metals miners and fertilizer companies, added 2.0 percent.

At 10:14 a.m. EST (1514 GMT), the Toronto Stock Exchange's S&P/TSX composite index was higher by 323.28 points, or 2.69 percent, at 12,359.14.   Continued...