April 19, 2016 / 2:22 PM / 2 years ago

CANADA STOCKS-TSX rises with miners as commodity prices rally

(Updates with early trade; adds details on Rogers earnings, materials sector)

* TSX up 90.06 points, or 0.66 percent, to 13,809.88

* Seven of the TSX’s 10 main groups were higher

TORONTO, April 19 (Reuters) - Canada’s main stock index rose on Tuesday as gold miners and other materials stocks gained on higher commodity prices, while Rogers Communications weighed after posting a smaller profit.

At 10:10 a.m. EDT (1410 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 90.06 points, or 0.66 percent, to 13,809.88.

Silver Wheaton jumped 5.9 percent to C$22.94 as silver prices surged to a 10-month high, while the broader materials group, which includes precious and base metals miners and fertilizer companies, added 2.1 percent. Gold, copper and other metals also pushed higher.

Barrick Gold Corp added 1.1 percent to C$20.48 and Goldcorp Inc rose 1.4 percent to C$21.84.

Adding to the positive sentiment, Barclays raised its target prices for a range of Canadian materials stocks.

First Quantum Minerals advanced 6.2 percent to C$8.10 and Teck Resources Ltd gained 2.1 percent to C$12.56.

The energy sector gained 1.8 percent, with oil prices rising as a strike by oil workers in Kuwait nearly halved crude production from the OPEC member.

The country’s heavyweight banks also ranked among the index’s most influential gainers, with Royal Bank of Canada adding 0.5 percent to C$78.15, Toronto-Dominion Bank advancing 0.7 percent to C$55.66 and Bank of Nova Scotia rising 0.5 percent to C$63.99.

Seven of the index’s 10 main groups were in positive territory, with two advancers for every decliner.

Rogers Communications Inc fell 1.3 percent to C$49.53 after reporting a slip in earnings after the bell on Monday as it spent heavily to get smartphones to its wireless customers and could not add enough Internet business to offset television and landline phone shrinkage.

The telecom group lost 0.7 percent.

U.S. crude prices were up 1.3 percent at $40.30 a barrel, while Brent added 1.7 percent to $43.62.

Gold futures rose 1.5 percent to $1,252.1 an ounce, and copper prices added 1.2 percent to $4,886 a tonne. (Reporting by Alastair Sharp; Editing by Nick Zieminski)

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