* TSX rises 53.01 points, or 0.34 percent, to 15,559.23
* Index touches its highest intraday since March 17 at
* Six of the TSX's 10 main groups gain
TORONTO, March 28 Canada's main stock index rose
on Tuesday to an 11-day peak as higher oil prices drove gains in
heavyweight energy shares, offsetting losses for gold miners.
At 10:49 a.m. ET (1449 GMT), the Toronto Stock Exchange's
S&P/TSX composite index rose 53.01 points, or 0.34
percent, to 15,559.23. It touched its highest intraday level
since March 17 at 15,583.52.
The index has rebounded more than 2 percent from a
three-month low last week at 15,241.55, helped by Canada's
government holding off from increased taxes on investors in its
A severe disruption to Libyan oil supplies and comments
from officials suggesting the Organization of the Petroleum
Exporting Countries could extend its production cuts deal to the
end of the year boosted oil prices.
U.S. crude prices were up 1.2 percent at $48.28 a
barrel, and the energy group gained 0.6 percent, led by a nearly
1 percent rise in the shares of pipeline company Enbridge Inc
Six of the index's 10 main groups rose. Industrials advanced
0.7 percent as railroad stocks climbed.
Royal Bank of Canada rose nearly 1 percent to
C$97.70, and the overall financials group gained 0.5 percent as
data showed that U.S. consumer confidence rose to its highest
since December 2000. That boosted the shares of U.S. banks and
helped to stall the recent decline in U.S. Treasury yields.
The yield on the Canadian government 10-year benchmark bond
was unchanged at 1.606 percent, breaking a downward
trend since mid-March.
A rise in bond yields would reduce the value of insurance
companies' liabilities and increase net interest margins of
Goldcorp's shares fell 4.4 percent to C$20.52, and
Barrick Gold's stock declined 1.3 percent to C$25.85 as
spot gold prices edged lower from a one-month intraday
high on Monday.
The two companies on Tuesday announced they would team up to
work on developing gold mines in northern Chile.
The overall materials group, which includes precious and
base metals miners and fertilizer companies, lost 0.7 percent.
(Reporting by Fergal Smith Editing by W Simon)