January 26, 2016 / 3:26 PM / 2 years ago

CANADA STOCKS-TSX gains as oil price rise boosts energy shares

(Adds details, updates prices)

* TSX up 116.67 points, or 0.96 percent, at 12,259.83

* All of the TSX’s 10 main groups move higher

TORONTO, Jan 26 (Reuters) - Canada’s main stock index rose on Tuesday as shares in banks and energy companies were helped higher by a recovery in the price of oil to above $30 a barrel.

There were six gainers for every decliner on the Toronto Stock Exchange’s S&P/TSX composite index in morning trade, with all ten main groups gaining.

At 10:10 a.m. EST (1510 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 116.67 points, or 0.96 percent, at 12,259.83.

The most influential risers were mostly banks and energy stocks, which together account for more than half of the index’s weight and have both fluctuated in recent days in tandem with moves in the oil market.

The energy group climbed 2.5 percent, with pipeline operator TransCanada Corp up 2.2 percent to C$46.92, Suncor Energy Inc adding 2.5 percent to C$30.70, and Canadian Natural Resources advancing 3.2 percent to C$25.70.

The financials group gained 0.8 percent, with Toronto-Dominion Bank rising 1.1 percent to C$50.75 and insurer Manulife Financial Corp up 1.4 percent to C$18.47.

Oil rose towards $31 a barrel on Tuesday, lifted by hopes that OPEC and non-OPEC producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades.

U.S. crude prices were up 1.7 percent to $30.86 a barrel, while Brent crude added 2.3 percent to $31.2.

Retailer Metro Inc fell 1.7 percent to C$41.15 after hitting an all-time high on better-than-expected profit and a hike in its dividend. (Reporting by Alastair Sharp; Editing by Nick Zieminski)

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