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CANADA STOCKS-Resource shares put TSX on track for fifth week of gains

Published 2017-10-13, 10:40 a/m
© Reuters.  CANADA STOCKS-Resource shares put TSX on track for fifth week of gains
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* TSX up 75.18 points, or 0.48 percent, at 15,817.38

* Nine of the TSX's 10 main groups were higher

Oct 13 (Reuters) - Canada's main stock index climbed on Friday as shares of energy and resource companies rose alongside oil and gold prices, putting the broader market on track for a fifth week of gains in a row.

The energy sector .SPTTEN led the way up, gaining 0.9 percent as oil prices were lifted by strong Chinese oil import data, as well as by turmoil in the Middle East.

U.S. crude CLc1 prices were up 1.2 percent at $51.18 a barrel, while Brent crude LCOc1 added 1.1 percent to $56.87. O/R

Canadian Natural Resources CNQ.TO was among the biggest lifts on the index, up 0.9 percent at C$41.04, while Cenovus Energy CVE.TO advanced 2.1 percent to C$12.16.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.6 percent, while Teck Resources TECKb.TO was up 2.5 percent at C$29.20.

Gold futures GCc1 rose 0.5 percent to $1,300 an ounce after weak U.S. inflation data dampened the case for interest rate increases. GOL/

The Canadian market also joined a global equity rally on Friday, with world stocks up for a fourth day on investor expectations of broad global growth. MKTS/GLOB

Toronto stocks are up 0.5 percent for the week so far, putting the index on track for its fifth consecutive week in positive territory. That is the longest streak since a five-week run that ended in November 2014.

In morning trading, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 75.18 points, or 0.48 percent, at 15,817.38.

All but one of the index's 10 main groups were in positive territory, with the healthcare sector .GSPTTHC down 0.8 percent.

The gains in recent weeks have put the stock market in sight of the intraday record hit last February, which is now less than 1 percent away.

On the domestic data front, Canadian home resales rose in September, led by the major cities of Toronto and Vancouver, and suggesting national sales may be stabilizing after cooling in the spring. real estate subsector .GSPTTRE climbed 0.2 percent.

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