TORONTO (Reuters) - Canada’s main stock index rose on Wednesday as higher oil prices boosted energy shares, offsetting investor worries about higher bond yields.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed up 32.75 points, or 0.21 percent, at 15,509.75.
Some investors have worried about the prospect of higher global borrowing costs after the U.S. 10-year Treasury note US10YT=RR yield reached 3 percent on Tuesday for the first time in four years.
The energy group rose 1.5 percent on Wednesday as oil prices climbed.
U.S. crude oil futures CLc1 settled 0.5 percent higher at $68.05 a barrel as investors shrugged off data showing rising domestic fuel inventories and production. Oil is one of Canada's major exports. [O/R]
Cenovus expects Canada’s railways to be able to carry more oil in the second half of this year, easing transport bottlenecks and allowing it to stick to previous annual forecasts.
Gains for railroad shares helped boost industrials, which ended up 0.9 percent.
Five of the index’s 10 main groups rose.
The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.5 percent.
Gold futures GCc1 fell 0.7 percent to $1,322.0 an ounce. [GOL/]
The TSX posted seven new 52-week highs and seven new lows.
Reporting by Fergal Smith; Editing by James Dalgleish
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