June 24, 2015 / 8:41 PM / 2 years ago

CANADA STOCKS-TSX hits 2-1/2-week high as energy leads

(Adds strategist comment, updates prices to close)

* TSX ends up 42.60 points, or 0.29 percent, to end at 14,947.51

* Seven of the TSX’s 10 main groups rise

By Alastair Sharp

TORONTO, June 24 (Reuters) - Canada’s main stock index rose for a third straight day on Wednesday, hitting a 2-1/2-week high as energy stocks shrugged off a fall in crude prices and investors held on to hopes for a satisfactory resolution to the Greek debt talks.

The gains bucked broader global trends as creditors demanded more from Greece’s left-wing government.

Suncor Energy Inc was the top-weighted rising stock, up 2.7 percent to C$35.70. Pipeline operator Enbridge Inc rose 1.6 percent to C$60.47, while the overall energy group gained 0.8 percent.

The Toronto Stock Exchange’s S&P/TSX composite index gained 42.60 points, or 0.29 percent, to end at 14,947.51. Seven of its 10 main sectors closed higher.

“The oils were a little bit better, so we got a bounce there,” said John Ing, president of Maison Placements Canada.

“The on-again, off-again Greek events are the dominant factor,” he added. “At one point everyone expected a deal and now who knows.”

The index has advanced some 2.1 percent so far this week, rebounding from recent declines.

“It’s rallied this week helped by Greek optimism,” said Fergal Smith, managing market strategist at Action Economics, referring to hopes that Greece can soon unlock aid to avert a debt default.

“We’ve bounced off the bottom of the multi-month range. Now it looks like we’re going to test the 15,000 threshold. So a close above 15,000, you’d look for that to open the door to additional strength.”

The heavily weighted financials and materials groups also provided a solid boost, both rising 0.4 percent.

Canadian Imperial Bank of Commerce shares rose 1.2 percent to C$95.92, while Brookfield Asset Management added 1.3 percent to C$45.04. First Quantum Minerals climbed 3.1 percent to C$18.14.

Advancing issues outnumbered decliners by a 1.25-to-1 ratio, with seven stocks posting 52-week highs and one hitting a new low.

Additional reporting by Solarina Ho; Editing by W Simon Editing by Leslie Adler

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