(Adds portfolio manager comment, updates prices to close)
* TSX settles up 30.02 points, or 0.21 percent, at 14,582.74
* Six of TSX's 10 main groups fall
* Index slips 0.1 pct on week; breaks 4-week rising streak
By Alastair Sharp
TORONTO, July 29 Canada's main stock index rose
on Friday, as its large energy sector recouped some losses from
earlier in the week with oil prices steadying, and miners gained
with gold trading at a three-week high.
The Toronto Stock Exchange's S&P/TSX composite index
closed up 30.02 points, or 0.21 percent, at 14,582.74.
It slipped 0.1 percent on the week, after four straight
weeks of gains.
The energy group rose 0.7 percent, while the materials
group, which includes precious and base metals miners and
fertilizer companies, gained 1 percent as gold prices rose on
weak U.S. economic growth.
Barrick Gold Corp added 1.7 percent to C$28.51 and
Detour Gold Corp jumped 7.3 percent to C$34.14.
Pipeline operator Enbridge jumped 4.5 percent to
C$53.71 and Canadian Natural Resources Ltd rose 0.8
percent to C$39.54.
Economic data and energy earnings out on Friday highlighted
the damage done by a massive wildfire that hit Canadian oil
sands production starting in May, and while crude steadied on
the day, it finished the month nearly 15 percent lower.
Diana Avigdor, a portfolio manager and head of trading at
Barometer Capital Management, said she had cut exposure to
energy stocks and the Canadian market in recent weeks.
She said she would wait to see if higher oil prices, which
she expects to trade between $25 and $75 a barrel over the next
three to five years, can boost the index from here.
"In Canada it is really going to depend on the price of
oil," she said. "When oil rallied to $50 we saw how quickly
supply came back, and that's why we see it back at $40 now."
Shares in Air Canada fell 4.8 percent to C$8.99
after the country's largest airline posted second-quarter
results that raised concerns about downward pressure on fares.
Six of the index's 10 main groups ended in negative
territory, although advancers outnumbered decliners by a
(Reporting by Alastair Sharp; Editing by Jeffrey Hodgson)