(MENAFN- ProactiveInvestors)Canadian shares rose reversing earlier losses as a rally among lenders made up for a slide in miners. The Standard & Poor's/TSX Composite Index (TSE:OSPTX) rose 0.2% to 13343.77 at 12:03 p.m. in Toronto. Six out of ten share groups were in positive territory. The 242-company benchmark gauge for Canadian equities (TSE:OSPTX) has lost 8.8% so far this year. The financials group which accounts for approximately 38% of the main measure more than any other group gained 0.9%. Royal Bank of Canada (TSE:RY) which has the heaviest weighting in the index added 0.8% to C$75.84. The energy sector the main index's second most heavily weighted group fell 0.2% as oil prices pulled back on Tuesday. Suncor Energy (TSE:SU) Canada's biggest energy company added 0.8% to C$38.63 following news that it is cutting 5% of its workforce in response to low crude prices. On the New York Mercantile Exchange December West Texas Intermediate crude shed 2% to $40.91 a barrel. The materials sub-index which includes mining shares tumbled 2.8% as gold slipped on Tuesday. Goldcorp (TSE:G) Canada's largest gold miner by market value sank 5.5% to C$15.17. U.S. gold futures for December delivery were down $5.70 an ounce at $1077.90. In other equities Shopify (NYSE:SHOP) fell 3.1% to C$26.51 after the stock's lockup for company insiders lifted. The junior S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 0.8% to 521.72 at 12:11 p.m. in Toronto. Storm Resources (CVE:SRX) the heaviest stock in the gauge surrendered 6.8% to C$3.72. The 432-company measure where energy and materials producers account for approximately 62% of its weighting has lost 24% this year.
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