(Adds reference to poll, updates prices)
* TSX up 83.69 points, or 0.58 percent, to 14,445.57
* Nine of the TSX's 10 main groups rise
TORONTO, July 12 (Reuters) - Canada's main stock index rose
on Tuesday, hitting its highest level since August, as shares in
oil and gas producers jumped with higher crude prices and
banking stocks also lent support.
Energy shares jumped 1.9 percent and financials added 0.75
percent, while gold miners were among the biggest weights.
The gains echoed Wall Street's record highs, partly fueled
by Alcoa (NYSE:AA) getting the U.S. earnings season off to a
better-than-expected start. .N
At 10:29 a.m. EDT (1429 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 83.69 points, or 0.58
percent, to 14,445.57.
It rose as high as 14,470.75, its strongest since August 10,
as political tensions eased in Britain and a weekend election
victory by Japan's ruling coalition paved the way for more
stimulus there.
Still, Canada's benchmark stock index will likely notch only
minor gains by year-end, a Reuters poll found, as investors
remain cautious about global growth, the U.S. election in
November, and whether oil prices will hold on to their recent
strength.
Oil bounced off two-month lows, helped by a weaker U.S.
dollar, but an oil inventory glut and a drop in bullish bets by
investors weighed on prices. O/R
Canadian Natural Resources CNQ.TO advanced 2.5 percent to
C$40.93, Suncor Energy Inc SU.TO advanced 1.6 percent to
C$36.86, and Cenovus Energy CVE.TO advanced 2.6 percent to
C$18.41.
Shares in Northland Power NPI.TO jumped 8.5 percent to
C$24.64 after the green energy company said it was considering
its strategic options as it eyes more and larger opportunities.
Canadian National Railway Co CNR.TO added 1.6 percent to
C$79.31 and rival Canadian Pacific Railway Ltd CP.TO rose 1.3
percent to C$176.73. Industrials rose 0.8 percent.
The most influential drags on the index were its gold
miners, with Barrick Gold Corp ABX.TO down 3 percent to
C$28.06, Goldcorp Inc G.TO off 1.6 percent at C$25.88, and
Franco-Nevada Corp FNV.TO fell 2.6 percent to C$100.86.
The price of gold fell for a second day, partly due to the
easing of concern about Britain's vote last month to leave the
European Union. Theresa May's victory in the battle to be
Britain's prime minister has reduced some of the political
uncertainty there. GOL/
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 0.9 percent. It was the
only one of the index's 10 main sectors in the red in morning
trade.