May 10, 2016 / 2:47 PM / in a year

CANADA STOCKS-TSX rises as oil rallies; oil sands producers plan restarts

(Adds details throughout on sectors and stocks, updates prices)

* TSX up 137.05 points, or 1.01 percent, to 13,700.89

* Eight of the TSX’s 10 main groups were higher

TORONTO, May 10 (Reuters) - Canada’s main stock index rose on Tuesday, led by financial and energy stocks as oil rose, while producers planned restarts at disrupted oil sands facilities.

Gains for global stocks added to support for the index after some solid corporate earnings in Europe and a new pledge by Japan that it was prepared to step in to weaken its yen currency.

The most influential movers on the index included Suncor Energy Inc, which rose 2.8 percent to C$34.14, and Canadian Natural Resources Ltd, which advanced 3.1 percent to C$36.94.

The overall energy group advanced 2 percent as oil rallied.

U.S. crude prices were up 1.2 percent to $43.94 a barrel, supported by supply disruptions in Canada and elsewhere.

Repair crews were expected to assess wildfire damage to the Canadian energy boomtown of Fort McMurray as the oil sands companies surrounding the ravaged city looked at bringing production back on line.

French utility EDF announced a deal to build three offshore wind parks in France with Canada’s Enbridge Inc . Enbridge’s shares rose 2 percent to C$50.94.

At 10:27 a.m. EDT (1427 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 137.05 points, or 1.01 percent, to 13,700.89. It hit a nearly four-week low on Monday at 13,535.54.

Eight of the index’s 10 main groups were higher.

The financials group advanced 1 percent, including a 1.1 percent gain for Royal Bank of Canada to C$76.47, while Toronto-Dominion Bank was up 0.9 percent to C$55.86.

Industrials rose 1.2 percent, led by railway stocks. (Reporting by Fergal Smith; Editing by Chizu Nomiyama)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below