CANADA STOCKS-TSX rises as natural resource shares rebound

Tue Jul 21, 2015 10:46am EDT
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* S&P/TSX index up 52.86 points, 0.37 pct, at 14,478.41

* Gold miners jump 4.5 percent after Monday's big drop


TORONTO, July 21 (Reuters) - Canada's main stock index rose on Tuesday as a rebound in commodity prices helped drive up shares of energy and mining companies.

Shares of gold miners tumbled in the previous session, with the price of gold dropping to a five-year low, sparked by Chinese selling. Shares of Barrick Gold Corp, the world's biggest gold producer, dropped nearly 16 percent on Monday.

But on Tuesday the benchmark TSX index's gold-mining group jumped 4.5 percent, with the energy sector adding 1.3 percent.

"We're making a bit of a comeback after yesterday's selloff," said Irwin Michael, portfolio manager at ABC Funds.

"The volatility is still substantial. The oversupply issues in resources, particularly energy, need to be resolved," he added.

The Toronto Stock Exchange's S&P/TSX composite index was up 52.86 points, or 0.37 percent, at 14,478.41. Five of the 10 main sectors on the index were higher.   Continued...