(Adds portfolio manager comment, details; updates prices)
* TSX rises 61.77 points, or 0.45 percent, to 13,684.78
* Nine of the TSX's 10 main groups gain
TORONTO, Nov 3 (Reuters) - Canada's main stock index rose on
Tuesday, helped by solid gains in the energy sector as oil
prices recovered and a move higher in shares of Royal Bank of
Canada RY.TO after it avoided the need to set aside additional
capital.
The heavyweight energy group climbed 3 percent, with
Canadian Natural Resources Ltd CNQ.TO advancing 2 percent to
C$31.84 and Cenovus Energy Inc CVE.TO adding 4.9 percent to
C$21.47.
Pipeline operator TransCanada Corp TRP.TO was flat at
C$44.23 after asking the U.S. government to suspend a review of
its controversial Keystone XL project.
The most influential gainers on the index also included
Royal Bank of Canada RY.TO , which gained 1.2 percent to
C$75.54, compared to a flat financials group overall.
The country's largest bank avoided a widely expected
designation from the Financial Stability Board as a global,
systemically important bank, which would have forced it to have
a higher capital position.
"The cheer was heard all the way from Bay Street to St.
Clair where I am," said Barry Schwartz, portfolio manager at
Baskin Financial Services. "It's the regulators saying you're
OK, you're not going to be covered under these new regulations
that will force you to have more capital that will constrain
your ability to grow."
At 11:05 a.m. ET (1605 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 61.77 points, or 0.45
percent, to 13,684.78.
Nine of the index's 10 main groups were in positive
territory, with advancers outnumbering decliners by 145 to 89.
U.S. crude CLc1 prices were up 2.7 percent to $47.39 a
barrel, while Brent crude LCOc1 added 2.5 percent to $50.02,
as a strike by oil workers in Brazil cuts into output in the
world's ninth-biggest producer.