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CANADA STOCKS-TSX hits six-week high as energy, financials drive gains

Published 2017-09-19, 10:28 a/m
© Reuters.  CANADA STOCKS-TSX hits six-week high as energy, financials drive gains
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* TSX up 42.04 points, or 0.28 percent, to 15,278.71

* TSX at highest since Aug. 9

* Consumer staples only sector lower; energy up 0.7 pct

TORONTO, Sept 19 (Reuters) - Canada's main stock index rose to six-week highs on Tuesday, led by oil and gas companies, bolstered by oil prices near five-month highs, and by financial stocks.

Canadian Natural Resources Ltd CNQ.TO rose 0.9 percent to C$40.66, while Cenovus Energy Inc CVE.TO advanced 2.7 percent to C$11.54.

The energy group climbed 0.7 percent as crude oil prices traded near five-month highs after key Middle Eastern producers showed they were continuing to comply with output cuts under an OPEC-led deal. O/R heavily weighted financials group rose 0.3 percent, though individual gains within the sector were modest.

At 10:04 a.m. ET (1404 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 42.04 points, or 0.28 percent, to 15,278.71. It touched 15,288.80, its highest since Aug. 9.

Of the index's 10 main groups, only the consumer staples sector was negative, losing 0.1 percent as grocers inched lower.

Industrials rose 0.3 percent, with Air Canada AC.TO stock rising 1.6 percent to C$24.03 after the airline set new financial targets and moved toward launching a rewards program. materials group, which includes precious and base metals miners and fertilizer companies, added 0.3 percent.

Advancing issues outnumbered declining ones on the TSX by 159 to 79, for a 2.01-to-1 ratio on the upside.

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