CANADA STOCKS-TSX rises as higher gold and oil support resource stocks

Fri May 6, 2016 11:02am EDT
 
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(Adds details throughout on sectors, stocks, wildfire, updates prices)

* TSX up 91.52 points, or 0.67 percent, to 13,723.53

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

TORONTO, May 6 (Reuters) - Canada's main stock index rose on Friday as gold stocks rallied, while energy stocks also gained after oil turned higher.

The most influential movers on the index included Barrick Gold Corp, which rose 5 percent to C$24.16, and Goldcorp Inc, which advanced 4 percent to C$25.06.

Spot gold rose 0.8 percent after U.S. nonfarm payrolls data for April came in weaker than expected, boosting expectations the Federal Reserve will delay further interest rate increases.

Suncor Energy Inc, which cut production this week due to a major wildfire in Canada's oil sands region, snapped a five-day losing run. Its shares rose 2.2 percent to C$33.88, while the overall energy group rose 1.5 percent as oil prices turned higher.

U.S. crude futures rose 0.7 percent to $44.62 a barrel, while Brent added 1.0 percent to $45.46.

The out-of-control wildfire has consumed entire neighborhoods in the Alberta oil town of Fort McMurray and threatened two oil sands sites south of the city.   Continued...