February 13, 2015 / 3:33 PM / 3 years ago

CANADA STOCKS-TSX nears five-month high on oil prices, TransCanada

* TSX up 83.39 points, or 0.55 percent, at 15,311.91

* Five of 10 main index sectors advance

* TransCanada up about 1 percent after results

By John Tilak

TORONTO, Feb 13 (Reuters) - Canada’s main stock index advanced to its highest in almost five months on Friday as stronger oil prices helped boost the energy sector and TransCanada Corp’s shares climbed after the pipeline company reported quarterly results.

Positive signals from Germany, where economic growth was much stronger than expected in the fourth quarter, also supported the market.

TransCanada reported a higher-than-expected quarterly profit, driven mainly by increased earnings from its Canadian operations. The stock rose about 1 percent in early trade.

Both U.S. and Brent crude oil prices were up more than 3 percent, helping the energy sector rebound from recent lows.

The benchmark TSX rose for a fifth straight session and was on track to record a weekly gain.

“We’re seeing a constructive tone coming back into the markets, which is a spillover from yesterday. But I think there is more hope in this market than actual conviction,” said Andrew Pyle, senior wealth advisor and portfolio manager at ScotiaMcLeod.

“These gains could be short lived, especially if we get bad news over the weekend with respect to Greece or Ukraine,” he added.

The Toronto Stock Exchange’s S&P/TSX composite index was up 83.39 points, or 0.55 percent, at 15,311.91. Five of the 10 main sectors on the index were higher.

Financials, the index’s most heavily weighted sector, strengthened. Royal Bank of Canada rose 0.6 percent to C$77.91, and Toronto Dominion Bank gained 0.6 percent to C$55.81.

Among shares of energy producers, Canadian Natural Resources Ltd was up 1.4 percent at C$39.46 and Suncor Energy Inc advanced 1.3 percent to C$39.59. (Editing by James Dalgleish)

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