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CANADA STOCKS-TSX rises as rally in oil prices supports energy stocks

Published 2016-01-14, 10:56 a/m
CANADA STOCKS-TSX rises as rally in oil prices supports energy stocks
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(Updates prices, adds details on energy, financial, consumer,
industrial and mining stocks)
* TSX up 13.81 points, or 0.11 percent, to 12,183.59
* Seven of TSX's 10 main groups rise

TORONTO, Jan 14 (Reuters) - Canada's main stock index rose
on Thursday after falling to a fresh 2-1/2-year low, as a rally
in crude oil prices helped support energy stocks, while losses
were unwound for financial stocks.
The index has fallen 6 percent in the first two weeks of
2016 as a deep slump in oil prices weighed on the
resource-linked market. It fell 11 percent in 2015, its worst
year since the global financial crisis of 2008.
Energy stocks rose 1.5 percent, helped by the rally in oil.
Enbridge ENB.TO rose 3.2 percent to C$44.20, while
Canadian Natural Resources CNQ.TO was up 1.7 percent at
C$25.15.
U.S. crude CLc1 prices were up 3.0 percent to $31.38 a
barrel, while Brent crude LCOc1 added 1.8 percent to
$30.86. O/R
Financials were little changed as losses for heavyweight
bank stocks were pared. Royal Bank of Canada RY.TO fell 0.4
percent to C$68.90 and Toronto-Dominion Bank TD.TO declined
0.5 percent to C$51.25.
At 10:42 a.m. EST (1542 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 13.18 points, or 0.11
percent, to 12,183.59. Seven of the index's 10 main groups were
in positive territory.
Magna International Inc MG.TO fell 2.0 percent to C$50.64,
reversing a good part of Wednesday's rally when the company said
it expected sales in its auto parts manufacturing business to
rise about 15.7 percent this year.
Air Canada AC.TO was down 7 percent at C$8.30.
Eldorado Gold Corp ELD.TO fell 0.8 percent to C$3.58.
Greece has asked the miner to reverse its decision to halt much
of its Greek mining operations and safeguard jobs as a condition
for the two parties to continue talks on the country's biggest
foreign investment.
The overall materials group fell 1.8 percent.

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