TSX rises, energy stocks up as oil at highest since July 2015

TSX rises, energy stocks up as oil at highest since July 2015

Canada's main stock index rose on Thursday, led by materials and energy shares as oil prices rose, while domestic retail sales data reinforced expectations the Bank of Canada is on hold until next year.

The S&P/TSX composite index was up 20.02 points to 16,096.67, after 90 minutes of trading.

It hit an all-time high of 16,131.79 on November 7.

The energy group gained 0.3 percent, with pipeline operator Enbridge Inc climbing 0.5 percent to C$47.22.

US crude oil futures settled up 2.1 percent at $58.02 a barrel.

The telecommunications group fell 0.8 percent, while industrials dipped 0.2 percent as Ritchie Bros.

The largest percentage gainer on the TSX was NexGen Energy Ltd, which rose almost 8 percent to C$3.38.

Six of its 10 main sectors closed in the red, with gains focused in the resource sectors as prices for oil and most base metals rose with a weaker USA dollar.

The move higher for oil was in part due to TransCanada Corp cutting crude flows from Canada into the United States.

The December gold contract was up US$7.00 to US$1,288.70 an ounce and the December copper contract was up one cent to US$3.14 a pound.

The TSX posted eight new 52-week highs and no new lows.

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