CANADA STOCKS-TSX rally pushes on with aid of banks, miners
(Adds analyst comment, updates prices to close)
* TSX ends up 85.66 points, or 0.60 percent, at 14,468.44
* Index gained 3.3 pct on week; off 0.6 pct in July
By Alastair Sharp
TORONTO, July 31 (Reuters) - Canada's main stock index notched its fourth straight day of gains on Friday, with the heavily weighted financials and materials sectors leading the way as investors sought value after a bleak couple of months.
The index had slipped below 14,000 for the first time since mid-January last week, as investors fretted about slumping oil prices and slowing Chinese demand for commodities.
It fell 0.6 percent in July, after a 3 percent decline in June.
But banking stocks shook off those fears, coupled with short bets that a stretched housing market could hurt them, gaining 0.4 percent.
"The whole 'shorting Canada' is usually a short-term phenomena, because let's face it, our financial sector has been a great place to be invested over the long term," said Julie Brough, vice president at Morgan Meighen & Associates. Continued...