(Updates throughout with stock and index moves)
* TSX up 58.81 points, or 0.37 percent, to 16,084.40
* Hits fourth straight intraday record of 16,105.88
* seven of the TSX’s 10 main groups were up
TORONTO, Nov 1 (Reuters) - Canada’s main stock index touched a fresh record for a fourth straight day on Wednesday, mirroring new highs on Wall Street, as higher commodity prices fueled energy and mining stocks and drove broad-based gains.
Suncor Energy rose 1.2 percent to C$44.31 while Encana Corp surged 3.6 percent to C$15.63. The two companies were the most influential drivers on the index and helped lift the overall energy sector for its fifth day of gains. The sector, which was up 1.8 percent, has advanced some 9 percent over that period.
Oil and gas companies were powered by prices of crude, which hit their highest since mid-2015 as data showed OPEC has significantly improved compliance on its pledge to cut supplies.
Nuvista Energy jumped 7.6 percent to C$8.63 after analysts raised their ratings and price targets following the company’s third quarter results.
At 10:33 a.m. ET (1433 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 58.81 points, or 0.37 percent, to 16,084.40. The index rose as high as 16,105.88 during the session, for its fourth-straight intraday record.
Seven of the index’s 10 main groups were in positive territory.
The materials group, which includes precious and base metals miners and fertilizer companies, added 1.4 percent, as gold prices rose on caution ahead of the Federal Reserve policy statement and this week’s confirmation of the new Fed chair.
Nickel prices also surged nearly six percent to two-year highs on demand expectations.
First Quantum Minerals Ltd rallied 5.6 percent to C$15.24, while Teck Resources advanced 3.4 percent to C$27.26. Goldcorp Inc was up 2.4 percent at C$17.25.
Financial services stocks edged up 0.1 percent, but gains were tempered by a 6.4 percent drop to C$56.46 in shares of Thomson Reuters Corp after the company reported a revenue miss amid uncertainty in Europe.
Industrials were among the few declining sectors, falling 0.3 percent, with WestJet Airlines Ltd slumping 5.0 percent to C$25.60.
Advancing issues outnumbered declining ones on the TSX by 157 to 87, for a 1.80-to-1 ratio on the upside.
The index had 15 companies posting a new 52-week high and 1 posting a new low. (Reporting by Solarina Ho; Editing by Bernadette Baum)