TORONTO (Reuters) - Canada’s main stock index had its biggest one-day gain in more than two months on Thursday, with energy shares rallying as OPEC members extended output cuts and Canadian Imperial Bank of Commerce (CM.TO) rising after forecast-busting earnings.
* The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended up 99.76 points, or 0.62 percent, at 16,067.48. Seven of its 10 main groups finished higher, with advancers outnumbering decliners by a 4.5-to-1 ratio.
* The energy group climbed 2.2 percent, with crude prices boosted by a deal among OPEC members and other oil producers to extend output cuts until the end of 2018.
* Pipeline operator Enbridge Inc (ENB.TO) jumped 6.3 percent to C$48.65 after saying it plans to sell C$3 billion of assets.
* Toronto-Dominion Bank (TD.TO), the country’s second-biggest bank, lost 2.4 percent to C$73.24 as lower investment banking revenue contributed to a fourth-quarter earnings miss, while No. 5 lender Canadian Imperial Bank of Commerce (CM.TO) rose 2.9 percent to C$118.14 after its earnings exceeded expectations.
* Lundin Mining Corp (LUN.TO) slumped 16.1 percent to C$7.52 in heavy volume after the diversified base metals miner lowered production guidance for 2018 at a flagship copper mine and several analysts cut their recommendations and target prices on the stock.
* The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.3 percent.
Reporting by Alastair Sharp; Editing by Meredith Mazzilli and Marguerita Choy