CANADA STOCKS-TSX hits new 2016 high as energy stocks brush off oil dip

Thu Mar 3, 2016 11:05am EST
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(Adds details, updates prices)

* TSX up 104.21 points, or 0.8 percent, at 13,122.14.

* Eight of the TSX's 10 main groups were higher

TORONTO, March 3 (Reuters) - Canada's main stock index hit a fresh 2016 high on Thursday as energy stocks gained despite a slip in oil prices and financial and mining shares also rose.

The index pushed above 13,000 for the first time this year on Wednesday as investors shook off worries about global growth amid upbeat data from major economies and signs of a rebound in commodity prices.

Among the most influential gainers was Canadian Natural Resources Ltd, which advanced 8.3 percent to C$32.66, even as it cut its 2016 capital expenditure and reported a sharp fall in profit.

With its second straight day of increases, the stock reached its highest since early December.

The energy group climbed 1.6 percent, though oil prices dipped after ballooning U.S. crude inventories and lack of progress on talk to control supply overshadowed the bullish sentiment that has built up this week.

At 10:29 a.m. EST (1529 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 104.21 points, or 0.8 percent, at 13,122.14.   Continued...