(MENAFN- ProactiveInvestors) Canadian shares gained for a third session lifted by energy stocks as crude prices found support in concerns about output disruptions in Libya.
The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) rose 0.6 percent to 14696.80 at 12:28 p.m. in Toronto. Three shares advanced for every two stocks that declined as all of the 10 major industries gained.
Libya extinguished fires at three of six oil-storage tanks that started last week at its Es Sider oil port after an attack by Islamist militias according to state-run National Oil Corp. West Texas Intermediate oil jumped as much as 1.9 percent in New York before falling 17 cents to $54.56 at 12:01 p.m..
The energy sector the main index's second most heavily weighted group rose 0.8 percent. Energy (TSE:SU) Canada's largest oil sands producer gained 1.4 percent to C$37.83. () Canada's largest pipeline company ticked up 1.8 percent to C$59.91.
TransCanada (TSE:TRP) added 1.1 percent to C$57.36 after the country’s second-biggest pipeline operator acquired a solar power generation facility in the New Liskeard region of northwestern Ontario as part of a multi-year agreement with (NASDAQ:CSIQ) North America’s biggest solar manufacturer.
The materials sub-index which includes mining shares added 0.5 percent even as gold futures fell for the fourth time in five sessions. (TSE:ABX) gained 1.3 percent to C$12.18. (TSE:G) rose 1.1 percent to C$20.79.
Alacer Gold (TSE:ASR) slumped 1.8 percent to C$2.23 after saying the Environmental Impact Assessment for the Copler sulfide project has received approval from the Ministry of Environment and Urbanization of Turkey. The miner said the approval marks the next step in the expansion of the Copler gold mine.
Gold futures for February delivery slipped 0.7 percent to $1186.60 an ounce at 10:03 a.m. on the Comex in New York.
Financials the index's most heavily weighted sector rose 0.8 percent. () which has the heaviest weighting in the index
() the company with the highest weighting in the index advanced 0.8 percent to C$80.94. Toronto-Dominion Bank (TSE:TD) the second-largest bank by market value advanced 0.8 percent to C$55.76. Bank of Nova Scotia () the third-largest surged 1 percent to C$66.94.
(TSE:RCI.B) Canada's largest wireless carrier edged up 0.8 percent to C$45.84 and (TSE:) the second-largest tacked on 0.8 percent to C$53.82. The corporate parents of Rogers and Bell Canada reached a deal that would see each company own 50 percent of Glentel () a chain of cellphone stores. Glentel jumped 8.8 percent to C$25.12.
() the world's third-biggest aircraft maker gained 1.8 percent to C$4.05 after saying it has received an order valued at about $484 million to supply 42 double-deck trains to operate on the Paris suburban network.
() gained 2.8 percent to C$340.18 after saying it has acquired CareTracker Inc. which provides practice management services for physicians for an undisclosed amount.
The junior () rose 0.5 percent to 677.49 at 12:12 p.m. in Toronto. The 404-company measure fell 28 percent this year.
In currency the Canadian dollar dipped 0.01 of a cent to 86.03 cents US.
In the U.S. market shares seesawed as equity measures as stocks from the hard-hit energy sector helped lift the S&P 500 to a fresh intraday record of 2093.46 at 11:48 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) edged up 0.1 percent while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) gained 0.1 percent. Most followed shares included Manitowoc Allianz Ambarella Cosi Caesars Entertainment and Associated Estates Realty Corporation.
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