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CANADA STOCKS-TSX lifted by energy, materials, as commodity prices steady
June 21, 2017 / 2:50 PM / a month ago

CANADA STOCKS-TSX lifted by energy, materials, as commodity prices steady

2 Min Read

* TSX up 91.79 points, or 0.61 percent, to 15,241.39

* Eight of the TSX's 10 main groups were up

* Energy stocks up 1.5 percent, materials up 1.3 percent

TORONTO, June 21 (Reuters) - Canada's main stock index rose on Wednesday as gains in resource stocks, bolstered in part by steadier prices of hard-hit commodities, helped lift the market.

Suncor Energy was among the most influential gainers, rising 1.7 percent to C$38.75. Cenovus Energy shares, which were battered in the previous session by news the company would replace its chief executive and sell some assets, partially recouped losses, rebounding 3.1 percent to C$9.73.

The overall energy group climbed 1.5 percent, as the price of oil, set for its biggest drop in the first half of the year since 1997, pared earlier losses. Prices have slumped as global inventories of both crude and refined products remain well above their long-term averages.

U.S. crude prices were up 1 percent to $43.93 a barrel.

At 10:35 a.m. ET (1435 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 91.79 points, or 0.61 percent, to 15,241.39.

Of the index's 10 main groups, only consumer staples and utility stocks fell.

The financials group, which makes up roughly a third of the index's weight, gained 0.2 percent. Bank of Nova Scotia led with a 0.9 percent gain to C$79.54.

The materials group, which includes precious and base metals miners as well as fertilizer and lumber companies, added 1.3 percent.

Fertilizer producer Agrium Inc rose 1.0 percent to C$123.55, while Barrick Gold Corp was up 1.1 percent at C$20.9. Teck Resources added 1.7 percent to trade at C$20.20.

Gold futures rose 0.1 percent to $1,242 an ounce, holding steady after sliding to a five-week low in the previous session. Copper prices advanced 1.3 percent to $5,731 a tonne, amid tighter supplies and some bargain hunting.

Advancing issues outnumbered declining ones on the TSX by 181 to 59, for a 3.07-to-1 ratio on the upside. (Reporting by Solarina Ho; Editing by Meredith Mazzilli)

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