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CANADA STOCKS-TSX gains with commodities as Brexit fears abate

Published 2016-06-17, 10:32 a/m
© Reuters.  CANADA STOCKS-TSX gains with commodities as Brexit fears abate
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(Adds details on energy, materials sectors; updates prices)
* TSX up 65 points, or 0.47 percent, at 13,947.41
* Seven of the TSX's 10 main groups were higher

TORONTO, June 17 (Reuters) - Canada's main stock index rose
on Friday as commodity prices pushed higher and global worries
about Britain voting to leave the European Union next week
abated.
Oil rose for the first time in seven sessions, while gold
was set for its third week of gains and copper steadied after a
sharp drop. O/R GOL/ MET/L
At 10:00 a.m. EDT (1400 GMT), the resource-rich Toronto
Stock Exchange's S&P/TSX composite index .GSPTSE was up 65
points, or 0.47 percent, to 13,947.41. It is on track for a 0.6
percent decline on the week.
The most influential movers on the index included oil
producers Canadian Natural Resources CNQ.TO , which gained 2.2
percent to C$38, and Suncor Energy Inc SU.TO , up 0.8 percent
to C$34.30. The energy group climbed 1.9 percent.
Suncor has launched an auction of its Petro-Canada
lubricants division, people familiar with the matter said.

The heavyweight financials sector rose 0.4 percent, while
the materials group, which includes precious and base metals
miners and fertilizer companies, added 0.8 percent.
Saskatchewan is considering whether to end a review of its
potash royalty system, the economy minister of the Canadian
province said, as producers of the crop nutrient struggle with
low prices.
Potash Corp of Saskatchewan POT.TO rose 1.5 percent to
C$21.77.
Meanwhile, Canada's energy regulator on Thursday officially
launched its 21-month review of TransCanada Corp's TRP.TO
Energy East pipeline, which would carry crude from Alberta's oil
sands to refineries and export terminals in Eastern Canada.

The TSX moved higher followed a rebound in Britain's top
share index from a four-month low, after campaigning for the EU
referendum next week was suspended following the killing of a
British lawmaker who was in favor of staying in the bloc.
Seven of the index's 10 main groups were in positive
territory, with advancing issues outnumbering decliners by
2.30-to-1.
Canada's annual inflation rate cooled in May on cheaper
gasoline and a slowdown in price increases for food, but the
Statistics Canada data was not expected to move monetary
policymakers from the sidelines. ECONCA

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