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TSX ends up 0.5% at 19,913.17
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BlackBerry jumps 7.4% after surprise Q1 profit
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Financials advance 0.6%
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Energy gains 1%; oil settles 0.4% higher
(Updated throughout at market close)
By Fergal Smith
June 29 (Reuters) - Canada's main stock index rose on Thursday to its highest closing level in 10 days, helped by signs of 'green shoots' for the energy sector and after positive news for U.S. bank stocks.
The Toronto Stock Exchange's S&P/TSX composite index ended up 94.32 points, or 0.5%, at 19,913.17, its fourth straight day of gains and its highest closing level since June 19.
"It's a response to what the broader markets globally have done and the TSX is catching up since it was actually lagging for some time," said Sid Mokhtari, chief market technician for CIBC Capital Markets.
The TSX has advanced 2.7% since the beginning of the year, while U.S. benchmark the S&P 500, which has a much higher weighting in high-flying tech stocks, has gained 14.5%.
"We are starting to see small green shoots within the energy sector which is yet another potential positive given its weight in the TSX index," Mokhtari said.
"And we are also seeing the U.S. bank sector beginning to show bottom building characteristics which should again be net positive for our sector as well."
The S&P 500 also rose on Thursday after major lenders cleared the Federal Reserve's annual stress test.
The Toronto market's heavily-weighted financial sector, which accounts for 29% of the TSX's market capitalization advanced 0.6%, helped by gains for the six major bank stocks, including Bank of Nova Scotia, which ended 1.4% higher.
The energy sector, which is also heavily weighed, rallied 1% as the price of oil settled 0.4% higher at $69.86 a barrel.
BlackBerry Ltd was a standout. Its shares jumped 7.4% after the company posted a surprise profit for the first quarter. (Reporting by Fergal Smith in Toronto and Shashwat Chauhan in Bengaluru; Editing by Vinay Dwivedi, Shailesh Kuber and Deepa Babington)
