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CANADA STOCKS-TSX at highest since August as oil, metals prices support

Published 2016-06-06, 10:47 a/m
© Reuters.  CANADA STOCKS-TSX at highest since August as oil, metals prices support
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(Adds detail from early trade, updates prices)
* TSX up 51.93 points, or 0.37 percent, at 14,278.71
* Eight of the TSX's 10 main groups rise

TORONTO, June 6 (Reuters) - Canada's main stock index rose
to a more than nine-month high on Monday as commodity price
gains helped boost the index's heavyweight energy sector and
base metal miners, although gold miners pulled back after last
week's rally.
Oil prices hovered around $50 a barrel and the index's
energy group climbed 1.6 percent. The most influential gainers
included Suncor Energy Inc SU.TO , which rose 1.1 percent to
C$35.99, and Enbridge Inc ENB.TO , up 1.1 percent at C$53.72.
At 10:26 a.m. EDT (1426 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 51.93 points, or 0.37
percent, at 14,278.71.
That was its highest since Aug. 14, with the steady gains
this year helped by oil's recovery from prices in the mid-$20s a
barrel.
Prices for metals including zinc and copper also rose on
Monday, while gold was flat after sharp gains late last week.
That left the index's overall materials group, which
includes precious and base metals miners and fertilizer
companies, up just 0.2 percent.
First Quantum Minerals jumped 7.8 percent to C$9.86. The
diversified miner last week completed the sale of a nickel,
copper and platinum mine in Finland and refinanced a credit
facility.
Teck Resources Ltd TCKb.TO advanced 5.1 percent to C$14.56
and Potash Corp POT.TO gained 3.5 percent to C$22.47.
Barrick Gold Corp ABX.TO declined 2.2 percent to C$24.27,
Goldcorp Inc G.TO lost 1.1 percent to C$23.39, and royalty
company Franco Nevada Corp FNV.TO slipped 1.5 percent to
C$88.78
Eight of the index's 10 main groups were in positive
territory, with two advancers for every decliner. The two
consumer categories were marginally lower.
U.S. crude CLc1 prices were up 2.3 percent to $49.76 a
barrel, while Brent crude LCOc1 added 2.1 percent to
$50.69. O/R
Gold futures GCc1 rose 0.2 percent to $1,242 an ounce,
while copper prices CMCU3 advanced 0.7 percent to $4,721.5 a
tonne. GOL/ MET/L

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