(Adds portfolio manager quotes, details on gold stocks and
Encana , updates prices)
* TSX closes up 13.45 points, or 0.1 percent, at 13,809.44
* Five of the TSX's 10 main groups end higher
By Fergal Smith
TORONTO, April 26 (Reuters) - Canada's benchmark stock index
edged higher on Tuesday as a jump in oil prices supported energy
stocks, while the materials group also advanced, offsetting deep
losses for one of the country's major railway stocks.
The index traded in a narrow range ahead of the Federal
Reserve interest rate announcement on Wednesday.
Investors have been "walking on eggshells," adjusting
positions ahead of the Fed announcement, said Ian Nakamoto,
director of research at MacDougall, MacDougall & MacTier.
He doesn't see a lot of "downside" risk for the market while
bond yields remain so low.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed up 13.45 points, or 0.1 percent, at 13,809.44.
It has rallied nearly 20 percent since January, but has been
unable to climb back above 14,000.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 1.3 percent, led by gold
stocks after weaker-than-expected U.S. durable goods data
supported gold. GOL/
Goldcorp Inc G.TO rose 3.3 percent to C$22.18, while
Barrick Gold Corp ABX.TO was up 1.4 percent to C$20.78.
The shares of Teck Resources Ltd TCKb.TO TCK.N rose 4.8
percent to C$13.69. The miner reported a surprise quarterly
profit as cost-cutting measures and a weak Canadian dollar
helped cushion the impact of lower coal and copper prices.
Energy stocks advanced 0.7 percent, including a 1 percent
gain for Canadian Natural Resources Ltd CNQ.TO to C$38.55,
while Encana Corporation ECA.TO jumped 6.9 percent to C$9.65.
U.S. crude futures CLc1 settled up $1.40, or 3.3 percent,
at $44.04 a barrel.
Bombardier Inc BBDb.TO rose 10.6 percent to C$1.99. The
company said a unit of Nova Scotia-based Chorus Aviation Inc
CHRb.TO has signed an agreement to buy five CRJ900 aircraft
with an option to buy an additional five.
Thomson Reuters Corp TRI.TO rose 1.5 percent to C$52.56
after it reported higher-than-expected quarterly earnings on
improved results in its main business of providing news and
analytics to financial companies.
However, the shares of Canadian National Railway Co CNR.TO
fell 5.1 percent to C$78.57 after the company lowered on Monday
its full-year earnings forecast, citing weaker-than-expected
freight demand in some markets and a strengthening Canadian
dollar.
Husky Energy declined HSE.TO more than 9 percent to
C$15.93. The oil and gas producer reported a first-quarter loss
on Monday and said it has agreed to sell a partial interest in a
package of Canadian midstream energy assets to two Hong
Kong-based firms for C$1.7 billion ($1.34 billion) in cash.