CANADA STOCKS-TSX gains on oil price jump, bank earnings positioning

Mon Feb 22, 2016 10:45am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds details, updates prices)

* TSX up 146.86 points, or 1.15 percent, at 12,960.26

* Nine of TSX's 10 main groups rise

TORONTO, Feb 22 (Reuters) - Canada's main stock index gained on Monday, as energy shares rose on a jump in oil prices and several major banks benefited from investor positioning ahead of quarterly earnings this week.

The energy group climbed 3.2 percent, with pipeline operator Enbridge Inc advancing 3.3 percent to C$44.57.

A world oil consumer body said it expected U.S. shale production to drop and data showed lower rig counts, pushing up oil prices that have been depressed by excessive supply.

Major oil sands operator Suncor Energy Inc gained 2.2 percent to C$33.57 and Canadian Natural Resources rose 2.9 percent to C$28.90.

Other influential gainers included several of the index's heavyweight banks that are lining up to report quarterly results later this week.

Bank of Montreal, which will be the first of the main six banks to report when it releases its results on Tuesday, gained 1 percent to C$75.14.   Continued...