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CANADA STOCKS-TSX rises as banks and energy stocks gain

Published 2016-09-15, 10:22 a/m
© Reuters.  CANADA STOCKS-TSX rises as banks and energy stocks gain
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(Adds details on specific stocks, updates prices)

* TSX up 85.97 points, or 0.6 percent, to 14,452.43

* Nine of the TSX's 10 main groups gain; materials slip

TORONTO, Sept 15 (Reuters) - Canada's main stock index rose on Thursday as financials and energy stocks led gains, despite crude prices turning negative and investors jitters about next steps for central banks.

At 10:06 a.m. EDT (1406 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 85.97 points, or 0.6 percent, to 14,452.43.

The index had lost around 3 percent of its value since last Thursday's close.

Nine of the index's 10 main groups were in positive territory, with more than 3 advancers for every decliner.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9 percent.

Gold miners were among the biggest weights, with Goldcorp Inc G.TO down 1.8 percent to C$20.41 and Yamana Gold Inc YRI.TO falling 2.7 percent to C$5.74.

Gold prices slipped as the U.S. dollar and European equities edged higher, curbing demand for the metal ahead of next week's Federal Reserve policy meeting. GOL/

Teck Resources Ltd TCKb.TO advanced 3.3 percent to C$23.53.

The heavyweight financial sector gained 0.8 percent, with Manulife Financial Corp MFC.TO up 1.5 percent to C$18.03. Toronto-Dominion Bank TD.TO advanced 0.6 percent to C$57.32 after selling home improvement financing assets with a book value of about C$339 million. energy group climbed 0.7 percent, although U.S. crude prices turned lower after early gains on a stronger dollar, in which the commodity is priced. O/R

Cenovus Energy Inc CVE.TO rose 1.9 percent to C$18.10, and Encana Corp ECA.TO added 2.1 percent to C$12.69.

Industrials rose 0.4 percent, with SNC Lavalin advancing 2.1 percent to C$53.9 after CIBC raised the company's rating to "outperformer" and upped its price target on the stock. crude CLc1 prices were down 0.4 percent to $43.42 a barrel, while Brent crude LCOc1 added 0.3 percent to $45.99. O/R

Gold futures GCc1 fell 0.8 percent to $1,310.8 an ounce. GOL/

Canadian household debt as a share of income hit a record high in the second quarter, Statistics Canada data showed in a report likely to reinforce concerns of overborrowing by consumers. of existing Canadian homes fell 3.1 percent in August from July, the fourth straight monthly decline and the largest drop in nearly two years, a report from the Canadian Real Estate Association showed.

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