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TSX rises as higher oil boosts energy stocks

(Reuters) - Canada’s main stock index rose on Friday, after a jump in oil prices lifted energy shares.

FILE PHOTO: A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch/File Photo

* At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 67.37 points, or 0.41 percent, at 16,466.84.

* Six of the index’s 11 major sectors were higher, led by energy shares, which jumped 1.8 percent.

* Brent and U.S. crude prices were up 0.9 percent each. [O/R]

* Oil prices rose as involuntary supply cuts from Venezuela, Libya and Iran supported perceptions of a tightening market, already underpinned by an OPEC deal to cut production.

* Grabbing the spotlight in the U.S. energy sector was Chevron Corp’s $33 billion offer to buy smaller rival Anadarko Petroleum Corp.

* The financial sector gained 0.6 percent.

* On the TSX, 162 issues were higher, while 68 issues declined for a 2.38-to-1 ratio favoring gainers, with 12.58 million shares traded.

* The largest percentage gainers on the TSX were Whitecap Resources, which jumped 5.3 percent followed by shares of Baytex Energy Co, which rose 4.6 percent.

* Badger Daylighting fell 4.6 percent, the most on the TSX.

* The most heavily traded shares by volume were Stornoway Diamond, Encana Corp and Baytex Energy Co.

* The TSX posted three new 52-week highs and no new lows.

* Across all Canadian issues there were 32 new 52-week highs and four new lows, with total volume of 19.80 million shares.

Reporting by Shreyashi Sanyal in Bengaluru

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