November 30, 2017 / 3:25 PM / 2 years ago

CANADA STOCKS-TSX up as energy stocks rally; TD Bank hit by earnings miss

(Adds details on specific stocks, updates prices)

* TSX up 44.03 points, or 0.28 percent, at 16,011.75

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

TORONTO, Nov 30 (Reuters) - Canada’s main stock index rose on Thursday, with energy shares rallying as hopes for a deal to extend output cuts pushed oil prices higher, while a miner sank on a lowered outlook and two big banks moved in opposite directions after reporting earnings.

* At 9:51 a.m. ET (14:51 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 44.03 points, or 0.28 percent, at 16,011.75. Six of its 10 main groups were higher, with three advancers for every decliner.

* Toronto-Dominion Bank, the country’s second-biggest bank, was down 2.9 percent at C$72.88 as lower investment banking revenue contributed to a fourth-quarter earnings miss, while No. 5 lender Canadian Imperial Bank of Commerce rose 2 percent to C$117.10 after its earnings exceeded expectations.

* The energy group climbed 1.6 percent, as OPEC and non-OPEC oil producers looked poised to extend output cuts until the end of 2018 to finish clearing a global crude glut. Pipeline operator Enbridge Inc was up 6.4 percent at C$48.68 after providing a strategic update including asset sale and dividend payment plans.

* U.S. crude prices were up 0.6 percent to $57.66 a barrel, while Brent crude added 1.2 percent to $63.85.

* Lundin Mining Corp slumped 18.9 percent to C$7.27 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 0.6 percent.

* Advancing issues outnumbered declining ones on the TSX by 176 to 57, for a 3.09-to-1 ratio on the upside.

Reporting by Alastair Sharp; Editing by Meredith Mazzilli

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