Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

CANADA STOCKS-TSX rises as higher oil boosts energy stocks

Published 2016-10-05, 10:42 a/m
© Reuters.  CANADA STOCKS-TSX rises as higher oil boosts energy stocks
NG
-
GSPTSE
-
CNQ
-
ERF
-
NG
-
TD
-
SU
-
CNI
-
RY
-

(Adds details on specific stocks and sectors, updates prices)

* TSX up 97.84 points, or 0.67 percent, to 14,618.85

* Eight of the TSX's 10 main groups rise

TORONTO, Oct 5 (Reuters) - Canada's main stock index rose on Wednesday as energy stocks gained with higher oil prices and as investors broadly cheered trade data that offered further evidence of a third quarter economic rebound.

At 10:16 a.m. EDT (1416 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 97.84 points, or 0.67 percent, to 14,618.85.

Eight of its main groups were in positive territory.

The energy group climbed 1.9 percent as oil prices pushed to their highest since June, supported by an industry report that U.S. inventories probably fell for a fifth straight week and OPEC's deal to cut supply. O/R

Suncor Energy Inc SU.TO rose 1.5 percent to C$36.94 and Canadian Natural Resources Ltd CNQ.TO rose 1.8 percent to C$42.76.

Enerplus Corp ERF.TO shares rose 6.3 percent to C$9.68. The energy producer has put its natural gas assets in the U.S. Marcellus shale region up for sale, according to three sources familiar with the situation. Gold rose 1.6 percent to C$20.71. It said late on Tuesday that operations had resumed at its Veladero mine in Argentina following approval from local authorities after processing solution containing cyanide spilled last month. the materials group, which includes precious and base metals miners and fertilizer companies, slipped 0.2 percent, as a string of other gold miners lagged, adding to a plunge on Tuesday, as prices for the precious metal held near a three-month low. GOL/

Novagold RS NG.TO fell 7.6 percent to C$5.92 after reporting a third-quarter loss. trade deficit in August shrank to its lowest level in eight months on stronger non-energy exports, offering further evidence the economy rebounded strongly in the third quarter.

The financials group gained 0.5 percent, with Royal Bank of Canada RY.TO up 0.6 percent to C$81.62 and Toronto-Dominion Bank TD.TO adding 0.6 percent to C$58.22.

Industrials rose 0.9 percent, with Canadian National Railway Co CNR.TO up 1.3 percent to C$88.11.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.