Energy Stocks Rebound, Lead TSX To Another Gain -- Canadian Commentary

(RTTNews) - Canadian stocks continued higher Thursday, extending this week's gains amid a flurry of earnings and other corporate news.

The S&P/TSX Index rose 63.26 points to 15,617.30, with energy shares snapping out of their recent funk.

Energy stocks jumped 2.2 percent as crude oil rallied near $53 a barrel.

Suncor Energy (SU.TO) jumped 3 percent as Canada's largest company reported a larger-than-expected fourth-quarter profit on higher global crude prices.

Canadian National Railway Co (CNR.TO, CNI) announced its planned C$2.5 billion capital program in 2017 focused on hardening its core infrastructure. Shares were up fractionall.

Telus (T.TO) profit missed expectations after spending to win more wireless customers. Shares fell 2.2 percent.

Manulife Financial (MFC.TO) reported a profit for its fourth quarter that rose 50% from last year. The dividend was boosted 11%. The stock was down fractionally.

Sun Life (SLF.TO) is overhauling its life insurance application process in Canada. Shares rose 1.3 percent.

WestJet Airline Ltd.(WJA.TO) reported load capacity and traffic was up sharply in January. Shares rose 2.1 percent.

Thomson Reuters Corporation (TRI.TO) released a profit for fourth quarter that dropped 23% from last year. Shares slipped 3.4 percent.

Brookfield Asset Management Inc. (BAM) fourth quarter profit rose 27% compared to the same period last year. Shares climbed 3.2 percent.

Finning International Inc.(FTT.TO) said Mike Wilson will resign as chairman. The stock was up 1 percent.

Fairfax Financial Holdings Ltd.(FFH.TO) has bought all shares of New Zealand insurer Tower for $143 million. The stock was marginally lower.

Canada's new home price index rose 0.1 percent in August from July on gains in Calgary, it was announced today.