TSX rises as higher oil prices boost energy shares

TORONTO (Reuters) - Canada’s main stock index rose on Wednesday led by the energy sector as oil prices climbed, while shares of financial and materials companies also gained ground.

FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch/File Photo

- The Toronto Stock Exchange’s S&P/TSX composite index closed up 41.56 points, or 0.26 percent, at 16,304.72.

- Nine of the index’s 10 main groups ended higher.

- Volume was much lower than usual with U.S. markets closed for the Independence Day holiday.

- Energy shares advanced 0.6 percent, helped by higher oil prices. U.S. crude oil futures were up 0.3 percent to $74.33 a barrel.

- Shares of Enbridge rose nearly 1 percent to C$46.84. The company will sell its western Canadian natural gas gathering and processing business to Brookfield Infrastructure Partners LP and its institutional partners for an enterprise value of about C$4.31 billion, the companies said.

- Financials, which account for about one-third of the weight of the TSX, rose 0.1 percent.

- The materials group, which includes precious and base metals miners and fertilizer companies, gained 0.4 percent.

- Gold futures rose 0.7 percent to $1,259.9 an ounce, while copper prices declined 1.4 percent to $6,401.59 a ton.

- Volume on the TSX index was 62.98 million shares.

Reporting by Fergal Smith; Editing by Chris Reese