CANADA STOCKS-TSX snap 3-day losing streak as commodities rally
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TSX ends up 0.3% at 19,587.41
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Rogers up on quarterly profit beat
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Commodity-linked stocks lead gains
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Manulife rises on earnings beat
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By Fergal Smith
Nov 9 (Reuters) - Canada's main stock index rose on Thursday, ending this week's losing streak, as commodity prices rebounded and investors cheered upbeat corporate earnings, including from Rogers Communications.
The Toronto Stock Exchange's S&P/TSX composite index ended up 57.20 points, or 0.3%, at 19,587.41 after three straight days of declines.
"We are seeing a nice move higher in the energy stocks which have been oversold as crude really had a rough patch, golds are bouncing back and also it was a nice quarter for Rogers," said Greg Taylor, a portfolio manager at Purpose Investments.
Rogers shares rose 3.2% as the telecom operator beat third-quarter profit estimates.
The energy sector ended up 1.5% as the price of oil rebounded from a four-month low the previous day, settling 0.5% higher at $75.74 a barrel.
Shares of Suncor Energy climbed 3.7% after the company reported higher-than-anticipated quarterly profit, helped by strong refining margins and higher sales volumes from its oil sands operations.
Uranium miner NexGen Energy received Saskatchewan's environmental assessment approval to proceed with development of its 100%-owned Rook I Project. Its shares added 7.1%.
The materials group, which includes precious and base metals miners and fertilizer companies, advanced 0.8% as gold and copper prices rose.
Stelco Holdings was another standout. Its shares jumped 12.5% after the steelmaker reported better-than-anticipated third-quarter results.
Manulife Financial shares were up 3% after the insurer posted better-than-expected earnings for the third quarter, boosted by sales in Asia and higher returns on investment. (Reporting by Fergal Smith in Toronto and Khushi Singh in Bengaluru; Editing by Tasim Zahid and Rod Nickel)
