(Updates to early trading)
* TSX up 3.59 points, or 0.02 percent, at 15,411.92
* Miners gain as commodity prices rise
TORONTO, April 27 (Reuters) - Canada’s main stock index gained on Monday as buoyant metal prices helped mining stocks rise and investors cheered first-quarter results from Restaurant Brands International Inc.
Restaurant Brands, formed by Burger King’s takeover of Canadian coffee and doughnut chain Tim Hortons last year, gained 1.5 percent to C$51.36 as first-quarter revenue more than doubled compared with the fourth quarter.
Miners accounted for four of the five biggest positive impacts on the Toronto Stock Exchange’s S&P/TSX composite index , as prices for copper, nickel and iron ore rose on hopes for stimulus in major buyer China. Gold also rose ahead of a U.S. Federal Reserve meeting later this week.
First Quantum Minerals Ltd jumped 6 percent to C$18.59, Barrick Gold Corp advanced 2.4 percent to C$15.60 and Silver Wheaton Corp added 3.3 percent to C$24.08.
The overall materials group climbed 1.3 percent.
Oil and gas stocks were off a touch, as crude prices steadied.
“The energy run that we’ve had is, in the very short term, banking up to tough levels on a technical front to be able to sustain itself on the upside,” said Sid Mokhtari, a market technician at CIBC World Markets.
Energy stocks have recovered some 15 percent over the last month, after a precipitous fall in the second half of 2014.
At 10:52 a.m. (1452 GMT), the TSX index was up 3.59 points, or 0.02 percent, at 15,411.92. Six of the ten main sectors gained.
“It’s a more stable environment right now, given that we’ve taken away the volatility with the big selloff we had in the oil patch,” Mokhtari said.
Reporting by Solarina Ho; Editing by Bernadette Baum
Our Standards: The Thomson Reuters Trust Principles.