(Adds details on specific stocks, updates prices to close)
* TSX up 42.86 points, or 0.28 percent, to 15,338.06
* Seven of the TSX's 10 main groups move higher
TORONTO, Dec 9 Canada's main stock index
extended a 19-month high on Friday and was heading for a 1.8
percent jump over the week as heavyweight energy and bank stocks
gained with rising oil prices and bond yields.
The energy group climbed 0.7 percent, with shares in major
player Suncor Energy Inc up 0.7 percent to C$43.15, as
crude gained ahead of a weekend meeting of producers that could
result in a agreement for further production cuts.
Cenovus Energy Inc added 1.6 percent to C$20.81 a
day after it said it planned to increase its 2017 capital budget
by about 24 percent and resume work on the expansion of its oil
sands project in Christina Lake.
At 9:53 a.m. EDT (1453 GMT), the Toronto Stock Exchange's
S&P/TSX composite index rose 42.86 points, or 0.28
percent, to 15,338.06. It touched its highest intraday since May
2015 at 15,339.04.
Seven of the index's 10 main groups were in positive
territory, with the financials group up 0.5 percent as 10-year
bond yields rose solidly for a third straight day.
Higher bond yields reduce the value of insurance companies'
liabilities and increase net interest margins of banks.
The country's largest lender, Royal Bank of Canada, advanced
0.7 percent to C$90.06 and Toronto-Dominion Bank rose
0.7 percent to C$65.61.
Fairfax Financial Holdings shares slipped 0.5
percent to C$605.97.
A subsidiary of Fairfax, one of the shareholders who helped
keep Bank of Ireland out of state hands in 2011, is selling half
of its remaining stake in the Irish lender, the bank managing
the sale said on Friday.
Shares in BRP Inc, the maker of Ski-Doo snowmobiles
and Sea-Doo watercraft, jumped 6.7 percent to C$27.47. It
reported a better-than-expected quarterly profit as it sold more
Industrials rose 0.3 percent, while the materials group,
which includes precious and base metals miners and fertilizer
companies, lost 0.2 percent.
(Reporting by Alastair Sharp; Editing by Nick Zieminski)