TORONTO, Sept. 14 (Xinhua) -- Canada's stock market surged Thursday as higher oil prices drove gains by energy companies, offsetting losses for miners after the value of copper and other base metals fell.
The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index rose 45.91 points, or 0.3 percent to close the day at 15,172.72, its highest close since Sept 1.
The energy group, which accounts for 20 percent of the Toronto market' s weight, climbed 1.2 percent. It has rallied for four straight days but is down 18 percent for the year.
Encana Corp. gained 2.7 percent to 12.73 Canadian dollars and Suncor Energy Inc added 1.7 percent to 41.63 Canadian dollars.
Empire, the parent company of the Sobeys grocery chain, jumped 14.5 percent to 22.61 Canadian dollar after reporting adjusted earnings and revenue that beat analyst expectations.
Global automotive supplier Magna International Inc rallied 3.7 percent to 62.08 Canadian dollars.
The materials group, which includes precious and base metals miners and fertilizer companies, lost ground, with Teck Resources falling 2.6 percent to 26 Canadian dollars and Ivanhoe Mines down 4.1 percent to 4.17 Canadian dollars.
Copper prices hit a four-week low as disappointing data from China pointed to slowing demand from the metal's top consumer.
Eldorado Gold Corp fell 0.4percent to 2.78 Canadian dollars after the miner received an arbitration notice from Greece.
Teck Resources which produces copper fell 1.5 percent to 26.29 Canadian dollars.
The Canadian dollar dropped 0.18 cents to 0.82.01 U.S. dollar while oil prices gained 92 cents to 50.22 Canadian dollars and gold prices recovered 1.50 to 1,329.50 U.S .dollars an ounce.
