(Adds details on specific stocks, updates prices)
* TSX rises 52.07 points, or 0.35 percent, to 14,859.63
* Six of the TSX’s 10 main groups move higher
TORONTO, Oct 27 (Reuters) - Canada’s main stock index rose in morning trading on Thursday, with the energy sector up decently as oil prices rebounded and as a slew of oil and gas companies reported quarterly earnings.
The country’s largest oil and gas producer, Suncor Energy Inc, was the most influential gainer, jumping 5.3 percent to C$41.47. Suncor reported better-than-expected third-quarter profit on strong upstream production, lower operating costs and record crude throughput at its refineries.
Cenovus Energy Inc rose 3 percent to C$20.76 even as it reported a steeper loss than expected and cut its 2016 exploration and production budget again.
The energy group climbed 1.9 percent as oil edged above $50 a barrel, with a further drop in U.S. crude inventories countering investor doubts that OPEC will be able to implement a production cut.
At 10:07 a.m. EDT (1407 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 52.07 points, or 0.35 percent, to 14,859.63.
Six of the index’s 10 main groups were in positive territory, with gainers outnumbering decliners by 1.4-to-1.
Shares in Barrick Gold Corp gained 2 percent to C$22.69 after the world’s largest producer of bullion reported a bigger quarterly profit reflecting higher gold prices and lower costs.
Teck Resources Ltd declined 3.8 percent to C$27.07 after its profit missed expectations, although its revenue jumped due to higher prices for steelmaking coal and the miner raised its production forecast for the year.
The stock has risen steadily this year and hit its highest level since January 2014 on Tuesday.
The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.5 percent.
U.S. crude prices were up 0.7 percent at $49.53 a barrel, while Brent added 0.9 percent to $50.41.
Gold futures rose 0.4 percent to $1,269.4 an ounce, and copper added 0.6 percent to $4,769 a tonne.
Belgium agreed a deal with its regional parliaments on Thursday to approve a landmark EU-Canada free trade agreement, breaking a deadlock that has blocked the pact for weeks.
The addendum added to the agreement to allay the concerns of the country’s regions still needs the approval of Canada and other EU states. (Reporting by Alastair Sharp; Editing by Bernadette Baum)
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