(Adds details on specific stocks, updates prices)
* TSX rises 116.14 points, or 0.78 percent, to 14,980.17
* Eight of the TSX's 10 main groups move higher
TORONTO, Nov 21 Canada's energy sector gave its
main stock index a boost on Monday, bolstered by a rally in
crude oil prices ahead of an OPEC meeting next week.
Oil rose 3 percent to its highest in three weeks as Saudi
Arabia's diplomatic charm offensive to persuade the cartel's
more reluctant members to join its proposed output cut raised
hopes for a deal.
The most influential movers on the index included Suncor
Energy Inc, which rose 2.2 percent to C$42.71, and
Canadian Natural Resources Ltd, up 2 percent to
Both major oil producers have gained around 9 percent since
The energy group climbed 2.3 percent, with Encana Corp
advancing 3.9 percent to C$16.40.
Shares in TransAlta Corp, the country's largest
operator of coal-fired plants, declined 1.8 percent to C$5.52.
Canada announced on Monday it will virtually eliminate the
use of traditional coal-fired electricity by 2030.
Around 10:30 a.m. EDT (1526 GMT), the Toronto Stock
Exchange's S&P/TSX composite index rose 116.14 points,
or 0.78 percent, to 14,980.17.
Eight of the index's 10 main groups were in positive
territory, with five advancers for every decliner.
The financials group gained 0.4 percent, with Royal Bank of
Canada up 1 percent to C$88.11, while industrials rose
The materials group, which includes precious and base metals
miners and fertilizer companies, added 1 percent as copper and
gold prices both pushed higher.
U.S. crude prices were up 2.4 percent to $46.80 a
barrel, while Brent added 2.8 percent to $48.17.
Canadian wholesale trade unexpectedly fell 1.2 percent in
September from August, dropping for the first time in six months
after a series of strong gains, Statistics Canada data indicated
(Reporting by Alastair Sharp; Editing by Dan Grebler)