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CANADA STOCKS-TSX gains with oil stocks, Empire; miners weigh

Published 2017-09-14, 10:50 a/m
© Reuters.  CANADA STOCKS-TSX gains with oil stocks, Empire; miners weigh
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(Updates prices)

* TSX up 25.79 points, or 0.17 percent, at 15,152.60

* Six of the TSX's 10 main groups move higher

TORONTO, Sept 14 (Reuters) - Canada's main stock index rose on Thursday as higher oil prices drove gains by energy companies, offsetting losses for miners after the value of copper and other base metals fell.

Empire Co EMPa.TO , the parent company of the Sobeys grocery chain, soared 12.1 percent to C$22.13 after reporting adjusted earnings and revenue that beat analyst expectations. energy group climbed 1.3 percent with Encana Corp ECA.TO adding 3.6 percent to C$12.85 and Suncor Energy Inc SU.TO advancing 1.1 percent to C$41.41.

U.S. crude CLc1 prices gained 1.5 percent to $50.04 a barrel after the International Energy Agency said a global oil surplus was shrinking. O/R

At 9:59 a.m. ET (1359 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 25.79 points, or 0.17 percent, at 15,152.60.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.3 percent, with Teck Resources TECKb.TO falling 2.6 percent to C$26 and Ivanhoe Mines Ltd IVN.TO down 4.1 percent to C$4.17.

Copper prices CMCU3 hit a four-week low as disappointing data from China pointed to slowing demand from the metal's top consumer.

Other base metal prices also slipped. MET/L

Eldorado Gold Corp ELD.TO fell 0.4 percent to C$2.78 after the miner received an arbitration notice from Greece. Bank TD.TO was up 0.2 percent at C$67.19 after the U.S. Federal Reserve approved its acquisition of Scottrade Financial Services, as expected. Pacific Railway Ltd CP.TO moved up 1.0 percent to C$193.63 and Canadian National Railway Co CNR.TO added 0.5 percent to C$98.54, a day after both operators spoke optimistically about grain volumes for the rest of the year. of the index's 10 main groups were in positive territory.

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