(Adds portfolio manager comment, details, updates prices to
* TSX ends up 33.89 points, or 0.22 percent, at 15,252.20
* Index falls 0.4 percent on week
* Four of 10 groups gain; energy up 0.5 pct, industrials 1.5
By Alastair Sharp
TORONTO, Dec 16 Canada's main stock index rose
on Friday as higher oil prices boosted heavyweight energy stocks
and gold miners recovered as the price of bullion steadied.
The most influential gainers included major energy producer
Canadian Natural Resources Ltd, which rose 1.2 percent
to C$44.70, and pipeline operator Enbridge Inc, which
gained 2.5 percent to C$57.35.
Oil rose, edging closer to new 17-month highs after Goldman
Sachs boosted its price forecast for 2017 and producers showed
signs of adhering to a global deal to reduce output.
"Oil's been like a yo-yo and I think that's what's been
driving the TSX back and forth," said Barry Schwartz, vice
president and portfolio manager at Baskin Financial Services.
"The Canadian market seems to be driven completely by
commodities and a little bit of the interest rate inflation play
with the financials participating," he said.
The Toronto Stock Exchange's S&P/TSX composite index
ended the day up 33.89 points, or 0.22 percent, at
15,252.20. The index fell 0.4 percent on the week after notching
a 1.7 percent in the prior week.
Bombardier Inc jumped 5.1 percent to C$2.05. The
plane and train maker said it is still seeking funds from the
Canadian government despite improved liquidity, as the company
assured investors it is prepared to deal with the cost of value
guarantees for older jets.
The energy group climbed 0.5 percent, while the financials
group, which accounts for more than a third of the index's
weight, fell 0.2 percent.
The materials group, which includes precious and base metals
miners and fertilizer companies, slipped 0.4 percent. But gold
miners gained after a slump in the prior session, with major
producer Goldcorp Inc adding 2.4 percent to C$16.64.
U.S. crude prices settled up 2 percent at $51.90 a
barrel, while Brent added 2.2 percent to $55.21.
Gold futures rose 0.5 percent to $1,133.2 an ounce,
while copper prices declined 1.7 percent to $5,635.65 a
Foreigners maintained their healthy appetite for Canadian
securities in October, snapping up C$15.75 billion ($11.75
billion) worth of bonds, stocks and money market paper,
Statistics Canada said on Thursday.
(Reporting by Alastair Sharp; Editing by James Dalgleish)