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* TSX closes up 64.01 points, or 0.41 percent, at 15,633.21
* Eight of the TSX's 10 main groups end higher
By Fergal Smith
TORONTO, May 10 Canada's main stock index rose
on Wednesday as higher oil prices supported energy shares, while
insurer Sun Life Financial Inc and exchange operator
TMX Group Ltd fell after reporting earnings that failed
to impress investors.
U.S. crude oil prices settled $1.45 higher at $43.33 a
barrel, bolstered by the biggest one-week drop in U.S.
inventories so far this year, and after Iraq and Algeria joined
Saudi Arabia in supporting an extension to Organization of the
Petroleum Exporting Countries supply cuts.
The energy group rose 2.1 percent, with Suncor Energy Inc
up 1.2 percent at C$43.63
The rally in energy stocks spilled over to other sectors of
Canada's stock market, said Manash Goswami, portfolio manager at
First Asset Investment Management Inc. "We are very much
dependent on the energy economy here."
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.8 percent, as gold held
above the previous day's eight-week low.
The Toronto Stock Exchange's S&P/TSX composite index
closed up 64.01 points, or 0.41 percent, at 15,633.21.
Eight of the index's 10 main groups ended higher.
The index posted a record closing high at 15,922.37 in
February but has since been pressured by a pullback in crude oil
prices, a more uncertain outlook for Canada's exports to the
United States and mortgage lender concerns.
Home Capital Group fell 1.1 percent to C$8.76 even
as the non-bank lender facing a regulator probe said depositors
were withdrawing funds at a slower rate.
The overall financials group gained 0.2, held back by a 3.4
percent drop in the shares of Sun Life to C$47.23 after the
company reported a smaller-than-expected profit late on Tuesday.
TMX fell 6.7 percent to C$72.97 after its earnings also
missed expectations after the bell on Tuesday.
DHX Media Ltd dipped 0.2 percent to C$5.94 after
the children's media company said it would add Snoopy and
Strawberry Shortcake to its portfolio with a $345 million deal
to buy Iconix Brand Group Inc's entertainment unit.
(Additional reporting by Alastair Sharp; Editing by Bernard Orr
and Sandra Maler)