TSX rises, energy stocks up as oil at highest since July 2015


TSX rises, energy stocks up as oil at highest since July 2015

TSX rises, energy stocks up as oil at highest since July 2015

TSX rises, energy stocks up as oil at highest since July 2015

The S&P/TSX composite index was up 20.02 points to 16,096.67, after 90 minutes of trading.

The energy group, which accounts for nearly a fifth of the index's weight, climbed 1.0 percent as USA crude prices rose 1.6 percent to $57.73 a barrel. Five of the index's 10 main groups ended lower.

The telecommunications group declined 0.8 percent, while industrials group fell 0.2 percent as Ritchie Bros.

The energy group, accounting for nearly a fifth of the index's weight, climbed 0.4 percent as US crude prices reached 58 USA dollars for the first time since July 2015. Auctioneers Inc retreated 2.7 percent to 32.46 Canadian dollars.

USA crude oil futures settled up 2.1 percent at $58.02 a barrel.

The largest percentage gainer on the index was NexGen Energy Ltd (NXE.TO), which rose 3.2 per cent, while the most influential was Canadian Natural Resources Ltd (CNQ.TO), which added 1.5 per cent to $44.48.

The move higher for oil was in part due to TransCanada Corp (TRP.TO) cutting crude flows from Canada into the United States. TransCanada fell almost 2 percent to 62.99 Canadian dollars.