CANADA STOCKS-TSX's 7th straight rise extends 2016 high; resource stocks shine

Fri Mar 4, 2016 10:24am EST
 
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(Adds details, updates prices)

* TSX rises 71.75 points, or 0.55 percent, to 13,195.40

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

TORONTO, March 4 (Reuters) - Canada's main stock index extended its record high for 2016 on Friday and was on track for a 3 percent weekly gain as mining and energy stocks rose on higher commodity prices and after data showing stronger-than-expected U.S. jobs data and higher Canadian exports.

The materials group, which includes precious and base metals miners and fertilizer companies, added 3 percent, while energy stocks climbed 1.1 percent.

The most influential movers on the index included Barrick Gold Corp, which gained 5.2 percent to C$19.61, and Goldcorp Inc, up 8.2 percent to C$21.68.

The price of gold held near a 13-month high despite a surge in U.S. employment that could further ease recession fears and allow the U.S. Federal Reserve to gradually raise interest rates this year.

Crude oil prices were slightly higher after a robust weekly gain, while iron ore hit a 4-month high and copper was on track for its best week since September.

Canadian Natural Resources Ltd rose 2.5 percent to C$33.68 and Enbridge Inc added 0.9 percent to C$47.76.   Continued...