May 7 (Reuters) - Canada’s main stock index climbed to a more than 13-week high on Monday, as the energy sector got a boost from higher oil prices and talks to update the North American Free Trade Agreement entered a crucial week.
* At 9:42 a.m. ET (1342 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index rose 88.95 points, or 0.57 percent, to 15,818.35.
* The price of oil, one of Canada’s major exports, rose to their highest levels since late-2014, boosted by Venezuela’s deepening economic crisis and a looming decision on whether the United States will re-impose sanctions on Iran.
* Ministers from Canada, the United States and Mexico meet in Washington on Monday to discuss the NAFTA trade deal, and will seek to resolve an impasse in key areas.
* Shares of Canadian Natural Resources and Encana Corp were the biggest boosts to the energy sector, which gained 1.5 percent.
* However, Ensign Energy Services, down 6.2 percent, was the only company in the sector to be lower after the oilfield services provider reported a bigger-than-expected quarterly loss.
* Also helping the sentiment was a 0.3 percent gain in the financial sector, which accounts for one-third of the main index’s weight.
* All 10 of Canada’s main index sectors were higher.
* Among stocks, Crescent Point Energy Corp rose 3.1 percent as its shareholders on Friday voted to elect the Canadian energy producer’s full slate of directors after a contentious battle with activist investor Cation Capital.
* Air Canada on Friday said wind and thunder storm at Toronto-Pearson has affected airport operations and a number of flights have been canceled or diverted. Shares of Canada’s largest airline were marginally up.
* The TSX posted 12 new 52-week highs and one new low. Across all Canadian issues, there were 25 new 52-week highs and five new lows.
* The largest percentage gainer on the TSX was Baytex Energy Co, which rose 6.3 percent. Desjardins raised its price target on the company’s stock.
* The largest decliner on the TSX was Ensign Energy.
* Among the most active Canadian stocks by volume were LoGiQ Asset Management, Cenovus Energy and Baytex
* Volume on the TSX index was 29.29 million shares. The total volume on Monday was 55.65 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Maju Samuel)