* TSX up 54.78 points, or 0.36 pct, to 15,464.56
* Four of the TSX's 10 main industry groups were up
* Materials up 3.4 pct, energy stocks up 1.4 pct
By Solarina Ho
TORONTO, June 6 Canada's benchmark stock index
rose on Tuesday as a surge in oil and gold prices sent energy
and mining companies rallying.
The Toronto Stock Exchange's S&P/TSX composite index
rose 54.78 points, or 0.36 percent, to finish at
Of the index's 10 main groups, four advanced, including a
3.4 percent jump in materials, which include gold miners, and a
1.4 percent lift in oil and gas companies.
Gold leaped to a seven-month high on safe-haven demand ahead
of a slew of key events on Thursday and after the U.S. dollar
fell to a seven-month low. Gold futures rose 1.1 percent
to $1,293.8 an ounce.
Gold firms dominated the index on the positive side, with
Barrick Gold climbing 4.9 percent to C$22.86, and
Goldcorp Inc rising 4.5 percent to C$18.89. Kinross Gold
Corp rallied 8.6 percent to C$6.21.
Iamgold Corp soared 11.7 percent to C$6.78 after
Japan's Sumitomo Metal Mining Co said it agreed to take
an interest in a gold mining project from the company for $195
Energy stocks, which have bounced alongside seesawing crude
prices, rose as the commodity found technical support after
sliding below $47 a barrel. Prices have stumbled amid
uncertainty over the impact of an Arab rift over Qatar.
"A lot of these names on a year-to-date basis, have been
pretty beaten up," said Manash Goswami, portfolio manager with
First Asset Investment Management Inc. "If you're looking for
value, you definitely want to look at sectors that have lagged -
energy has been one of those."
Goswami said the market was otherwise taking a pause, with
overall investor sentiment cautious ahead of a busy Thursday
which will see Britain heading to voting booths and former FBI
director James Comey testifying before the U.S. Congress. The
European Central Bank is also meeting the same day.
Tempering gains was a 0.6 percent retreat in financial
services companies. The group includes Canada's biggest banks
and insurers and accounts for about a third of the index's
weight. Manulife Financial Corp declined 1.5 percent to
C$23.15, while Royal Bank of Canada gave up 0.8 percent
to finish at C$92.81.
Hudson's Bay Co, which reports quarterly results on
Thursday, fell 3.5 percent to C$9.73, tracking U.S. department
store stocks which slumped after Macy's Inc warned of a
bigger-than-expected drop in gross margins.
Advancing issues outnumbered declining ones on the TSX by
141 to 101, for a 1.40-to-1 ratio on the upside.
(Reporting by Solarina Ho; Editing by Tom Brown)