TSX rises as higher oil boosts energy stocks

April 12 () - Canada's main stock index rose on Friday, after a jump in oil prices lifted energy shares.

* At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange'sS&P/TSX Composite index was up 67.37 points, or 0.41 percent, at 16,466.84.

* Six of the index's 11 major sectors were higher, led by energy shares, which jumped 1.8 percent.

* Oil prices rose as involuntary supply cuts from Venezuela, Libya and Iran supported perceptions of a tightening market, already underpinned by an OPEC deal to cut production.

* Grabbing the spotlight in the U.S. energy sector was Chevron Corp's$33 billion offer to buy smaller rival Anadarko Petroleum Corp .

* The financial sector gained 0.6 percent.

* On the TSX, 162 issues were higher, while 68 issues declined for a 2.38-to-1 ratio favouring gainers, with 12.58 million shares traded.

* The largest percentage gainers on the TSX were Whitecap Resources , which jumped 5.3 percent followed by shares of Baytex Energy Co , which rose 4.6 percent.

* Badger Daylighting fell 4.6 percent, the most on the TSX.

* The most heavily traded shares by volume were Stornoway Diamond , Encana Corp and Baytex Energy Co .

* The TSX posted three new 52-week highs and no new lows.

* Across all Canadian issues there were 32 new 52-week highs and four new lows, with total volume of 19.80 million shares.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.