TORONTO: Canada's main stock index rose on Friday as pipeline operator Kinder Morgan Canada Ltd jumped following a favorable regulator ruling and energy stocks broadly gained with higher oil prices.
At 9:46 a.m. ET (14:46 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 53.19 points, or 0.33 percent, at 16,068.87. It is on track for a 0.2 percent gain over the course of the week.
Kinder Morgan Canada was last up 6.4 percent at C$17.72 after the country's energy regulator ruled it could sidestep some municipal permits for its Trans Mountain pipeline expansion.
Nine of the index's 10 main groups were in positive territory, with telecoms being the one declining group, and advancers outnumbered decliners by more than 4-to-1.
Rogers Communications Inc fell 1.4 percent to C$64.34, the heaviest weight on the index, after the cable and telecom company said its chairman would step down at the end of the year. He will be replaced by Edward Rogers, the son of the family-controlled company's founder Ted Rogers.
The energy group climbed 0.4 percent, as oil prices edged higher, while the financials group gained 0.3 percent.
Industrials rose 0.7 percent, led by gains for the country's two main railway companies, while the materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent.
Among the most influential gainers on the index were diversified miner Teck Resources Ltd, which rose 2.3 percent to C$29.93, and Barrick Gold Corp, which advanced 1.0 percent to C$17.75.
Copper and gold prices were marginally higher.
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