CANADA STOCKS-TSX rises as commodities, bank gain
(Adds investor comment, updates prices to close)
* TSX ends up 163.69 points, or 1.14 percent, to 14,466.39
* Half of the TSX's 10 main groups close higher
By Alastair Sharp
TORONTO, Aug 10 (Reuters) - Canada's main stock index rebounded on Monday, with robust gains from major banks and a surge in some gold miners and energy companies helping the index rise over 1 percent, more than cancelling out Friday's slump.
Four of the six biggest positive drivers were banks. The financials group, which also includes insurers and makes up roughly a third of the index, climbed 1.2 percent.
Toronto-Dominion Bank advanced 1.6 percent to C$53.25, Royal Bank of Canada rose 1.2 percent to C$77.28, and Bank of Montreal added 1.4 percent to C$73.79.
"In a period of zero interest rates they remain attractive," said John Ing, president of Maison Placements Canada. "The dividends of the banks are a good refuge."
But while the energy group jumped almost 3 percent, Ing said the outlook is more uncertain in that major part of the index. Continued...