CANADA STOCKS-TSX jumps most in 5 weeks as oil spike boosts energy stocks

Tue Apr 12, 2016 4:35pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds strategist comment, details, updates prices to close)

* TSX ends up 158.66 points, or 1.18 percent, at 13,581.42

* Half of the TSX's 10 main groups rise

By Alastair Sharp

TORONTO, April 12 (Reuters) - Canada's main stock index notched its biggest jump in more than five weeks on Tuesday, bouncing higher as a spike in the price of oil boosted energy stocks and supported financials.

The overall energy group surged 5.2 percent as oil prices hit four-month highs after a report that Russia and Saudi Arabia agreed to freeze output ahead of a meeting of producers.

The most influential movers on the index included Suncor Energy Inc, which advanced 3.7 percent to C$36.89, and Canadian Natural Resources, up 5.3 percent to C$37.50.

"Energy is definitely leading it, on the back of the stronger oil prices, but it is lifting the rest of the market with it," said Philip Petursson, chief investment strategist at Manulife Investments.

The Toronto Stock Exchange's S&P/TSX composite index ended the session up 158.66 points, or 1.18 percent, at 13,581.42. It touched its highest level since March 17 during the session.   Continued...