CANADA STOCKS-TSX gains for 5th day as oil price rise lifts energy stocks

TORONTO, Aug 5 (Reuters) - Higher crude oil prices helped
boost Canadian energy stocks on Wednesday, while figures that
showed a surprise shrinking of the country's trade deficit in
June aided broad investor sentiment, pushing up the main stock
index.
Oil edged up for a second day after dipping below $50 a
barrel. It has fallen 21 percent so far this quarter.
"We're trying to figure out which companies can operate and
continue to do well in a situation as terrible as this," said
Bryden Teich, associate portfolio manager at Avenue Investment
Management.
Among the biggest gainers were pipeline operator Enbridge
Inc ENB.TO , up 1.4 percent at C$58.38. Oil producer Canadian
Natural Resources Ltd CNQ.TO gained 2.1 percent to C$32.91 and
Suncor Energy Inc SU.TO added 1.3 percent to C$37.41. The
overall energy group climbed 1.8 percent.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE looked on track for its fifth straight rise, up 116.41
points, or 0.79 percent, at 14,694.90 at midmorning.
Valeant Pharmaceuticals (NYSE:VRX) International VRX.TO , an
acquisitive drugmaker that has risen quickly to become a major
force on the index, rose 1.2 percent to C$346.65.
Fertilizer producer Potash Corp POT.TO gained 1.1 percent
to C$36.39. Its U.S. peer Mosaic Co reported a much
higher-than-expected profit on Tuesday, helped in part by higher
potash prices.
Canada's long-suffering export sector snapped a five-month
losing streak in June, cutting the country's trade deficit
significantly and contributing to a more buoyant tone in the
equity market.
"A positive export number means potentially positive GDP
data, so that means that maybe the consumer is a little bit
better off," Teich said.
All of the index's 10 main groups were in positive
territory, with advancing issues outnumbering decliners by a
more than 3-to-1 ratio.
($1=$1.32 Canadian)