TSX Rallies As Crude Oil Surges Up 5.75% -- Canadian Commentary

(RTTNews) - Canadian stocks rose Tuesday, bolstered by surging crude oil prices and strong gains across most sectors.

The S&P/TSX Composite jumped 157.83 points, or 1.09 percent, to 14,756.28. Bay Street has withstood any concerns about a potential change in change relations with the US in the wake of protectionist Donald Trump's election win.

Dec. WTI oil was up $2.49 to $45.81/bbl, a gain of 5.75 percent, amid renewed expectations that OPEC will agree to cut production.

Energy stocks rose 3.4 percent.

TransCanada Corporation (TRP.TO) will not proceed at this time with its new, long-term, fixed-price proposal to flow natural gas along the Canadian Mainline from Alberta to Southern Ontario.

Financials were flat after Royal Bank (RY.TO) said it is hiking mortgage rates on long-term home loans.

Lundin Mining (LUN.TO) will sell its indirect stake in TF Holdings to a Chinese firm for $1.14 billion cash.