Energy Stocks Lead TSX Slightly Higher -- Canadian Commentary

(RTTNews) - Canadian stocks edged higher Thursday, as crude oil prices continued to rally on OPEC's agreement in principle to curb production.

Vulnerable OPEC nations like Nigeria and Libya will be allowed to pump at the current pace, but Saudi Arabia and others will limit output next year.

Russia previously said it is prepared to join such a deal, but has been quiet this week.

Energy stocks jumped 2.3%.

November West Texas Intermediate crude rose 78 cents, or 1.7%, to settle at $47.83 a barrel on the New York Mercantile Exchange.

The S&P/TSX Composite Index was up 23.12 points, or 0.16%, to 14,754.55.

Gold and health care stocks struggled, while banks were flat.

SNC-Lavalin Group Inc. (SNC.TO) said that it lowered its 2016 outlook from an adjusted earnings per share due to unfavorable cost and revenue reforecasts. Shares fell 7.1%

Kirkland Lake Gold Inc. (KLG.TO) and Newmarket Gold Inc. (NMI.TO) announced they have entered into a definitive agreement to merge the two companies.

Kirkland slipped 7.5%, while Newmarket rose 0.8%.