December 5, 2016 / 3:42 PM / in a year

CANADA STOCKS-TSX gains as energy stocks rise with oil

(Adds details on specifics stocks, sectors; updates prices)

* TSX up 38.17 points, or 0.25 percent, to 15,090.69

* Six of the TSX’s 10 main groups move higher

TORONTO, Dec 5 (Reuters) - Canada’s main stock index rose on Monday as shares in energy companies were boosted by further gains oil prices after last week’s OPEC agreement to limit production.

The energy group climbed 0.9 percent. Brent crude topped $55 a barrel for the first time in 16 months as traders positioned for tighter supply.

Large banks also helped boost the index, which hit a near 18-month high last week, while gold miners muted the overall gains as investors shrugged off concern about political instability in Italy.

Barrick Gold Corp fell 3.3 percent to C$20.12 and Kinross Gold Corp lost 6.3 percent to C$4.32, while Royal Bank of Canada rose 0.5 percent to C$88.17 and Toronto-Dominion Bank added 0.6 percent to C$63.67.

At 10:16 a.m. EDT (1516 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 38.17 points, or 0.25 percent, to 15,090.69.

Six of the index’s 10 main groups were in positive territory, with advancers outnumbering decliners by a 1.4-to-1 ratio.

First Quantum Minerals Ltd advanced 6.9 percent to C$15.775 and Potash Corp gained 2.4 percent to C$24.57, but the materials group, which includes precious and base metals miners and fertilizer companies, was pulled lower by gold miners.

Copper prices advanced 3.1 percent to $5,940 a tonne, while gold futures fell 1.5 percent to $1,157 an ounce.

U.S. crude prices were up 0.7 percent to $52.05 a barrel, while Brent added 1.1 percent to $55.07.

The Liberal government’s new mortgage rules are likely to sober up Canada’s housing market over the coming year, a Reuters poll showed, but record-low borrowing costs should bolster demand. (Reporting by Alastair Sharp; Editing by Meredith Mazzilli)

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