CANADA STOCKS-TSX rises modestly as Greek concern limits Fed relief

Thu Jun 18, 2015 11:39am EDT
 
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(Updates market action and adds analyst's comment)

* TSX up 17.15 points, or 0.12 percent, at 14,750.13

* Six of the index's 10 main sectors rise

By Solarina Ho

TORONTO, June 18 (Reuters) - Canada's main stock index advanced marginally on Thursday, with gains limited by declines in energy and financial shares, as the lift in market sentiment provided by a more dovish U.S. Federal Reserve tone was undercut by concern over the Greek debt crisis.

Investors who were worried about an impending Fed interest rate hike took comfort in the view the Fed expressed in its statement on Wednesday that slower economic growth would slow the pace of rate hikes.

But expectations were low that Greece and its international creditors will reach a deal to prevent the debt-ridden country from defaulting at the end of June.

"Those seem to be the two things that are playing out here," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "We still have to wait another month or so before earnings. I think that's why markets are focusing more on these macro factors."

At 11:08 a.m. EDT (1508 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 17.15 points, or 0.12 percent, at 14,750.13. Six of the index's 10 main groups were higher.   Continued...