* Nine of the TSX’s 10 main groups rise; energy slips
TORONTO, Sept 14 (Reuters) - Canada’s main stock index made a small gain in Wednesday morning trading as mining stocks rebounded, while a further slide in oil prices weighed on shares of energy companies.
At 9:51 a.m. EDT (1351 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 24.68 points, or 0.17 percent, at 14,373.78.
Nine of the index’s 10 main groups were in positive territory, with the energy group retreating 0.7 percent as oil prices extended losses. They had fallen as much as 3 percent in the previous session amid concerns that rebalancing the global oil market will take longer than originally envisaged..
Teck Resources Ltd advanced 3.7 percent to C$22.05. CIBC raised its price target on the diversified miner’s stock to C$28 from C$23.
Barrick Gold Corp rose 1.9 percent to C$23.21 as gold prices edged higher.
Silver Wheaton Corp gained 2.9 percent to C$36.18. The chief executive officer of the company told the Globe and Mail that it was interested in working with Barrick to finance a restart of its Pascua-Lama gold project in South America.
The materials group, which includes precious and base metals miners and fertilizer companies, added 1.8 percent.
The most influential weights included Cenovus Energy Inc , which fell 2.2 percent to C$17.72, and Crescent Point Energy Corp, which lost 1.7 percent to C$16.89.
The U.S. economy looks set to accelerate over the rest of the year, a senior Bank of Canada official said on Wednesday, a potentially encouraging sign for Canada just a week after the central bank warned of risks to domestic growth.
International Monetary Fund Managing Director Christine Lagarde on Tuesday praised Canada’s three-pronged approach of taking monetary, fiscal and structural action to avert the risk of recession as an example to which others could aspire. (Reporting by Alastair Sharp; Editing by Lisa Von Ahn)