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CANADA STOCKS-TSX advances, led by energy stocks, as oil price gains

Published 2017-05-15, 10:41 a/m
CANADA STOCKS-TSX advances, led by energy stocks, as oil price gains
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* TSX up 93.27 points, or 0.6 percent, to 15,631.15

* Nine of the TSX's 10 main groups advanced

TORONTO, May 15 (Reuters) - Canada's main stock index rose on Monday as energy companies, helped by a jump in crude oil prices, led a broad rally.

The price of oil surged to its strongest in more than three weeks on Monday after Saudi Arabia and Russia supported an extension on supply cuts into 2018. Canada's energy sector is sensitive to the global price of oil. O/R

Canadian Natural Resources Ltd CNQ.TO was the most influential gainer on the index, rising 2.2 percent to C$43.16, while Suncor Energy Inc SU.TO advanced 1.1 percent to C$43.91.

The overall energy group climbed 1.7 percent. U.S. crude CLc1 prices were up 2.7 percent to $49.15 a barrel.

At 10:25 a.m. ET (1425 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 93.27 points, or 0.6 percent, to 15,631.15.

Telecoms, down 0.1 percent, was the only one of the index's 10 main groups that did not advance.

The financials group gained 0.4 percent, as Toronto Dominion Bank TD.TO led the sector with a 0.7 percent advance to C$63.52. Home Capital Group Inc HCG.TO , which updated its liquidity and deposits status on Monday, bounced 6.2 percent to C$9.71.

Over the weekend, Bank of Canada Governor Stephen Poloz said in a newspaper interview that the alternative lender's recent problems were contained. He said the potential impact of sharp gains in Canadian home prices was the central bank's primary concern. estate data on Monday showed home resales fell last month from record highs in March, suggesting that a long-awaited slowdown in housing may have begun. National Railway Co CNR.TO was another influential gainer, climbing 1.2 percent to C$102.86, to help give the industrials group a 0.7 percent rise.

On the downside, news that Eldorado Gold Corp ELD.TO will buy Integra Gold Corp ICG.V sent Eldorado's shares down 8.4 percent to C$4.58, tempering some of the materials group's 0.8 percent gains.

Advancing issues outnumbered decliners on the TSX by 193 to 55, for a 3.51-to-1 ratio.

The index was posting 6 new 52-week highs and one new 52-week low.

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