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News: TSX extends two-month high as oil rally lifts energy producers

  1. Canadian shares advanced for a fourth day, stretching a two-month high, as an oil price rally pushed energy producers higher.

    The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) added 1.1% to 15,059.95 at 12:22 p.m. in Toronto.

    The gauge earlier touched 15,096.48, the highest intraday price since November 25.

    More than two shares advanced for every stock that retreated, as half of the 10 major industries gained.

    The energy sector, the main index's second most heavily weighted group, added 3% as oil, Canada’s largest export, rose for a third day.

    Suncor Energy (TSE:SU), Canada's largest oil sands producer, skidded 0.4% to C$39.20. Canadian Natural Resources Limited (TSE:CNQ), Canada’s largest independent energy company, edged up 0.8% to C$39.18.

    WTI climbed US$1.47 to US$51.04 at 12:24 p.m., having reached US$51.55 earlier.

    Benchmark Brent crude oil was up US$1.41 at US$56.16 a barrel, after rallying to a one-month high of US$57.23.

     

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