CANADA STOCKS-Gold miner rise helps TSX push higer

Wed Oct 14, 2015 10:26am EDT
 
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(Adds details on early trading)

* TSX up 89.33 points, or 0.65 percent, at 13,934.06

* Nine of its 10 main groups rise

TORONTO, Oct 14 (Reuters) - Canada's main stock index rose on Wednesday, helped by gains among gold mining stocks as the price of bullion hit its highest level since late June.

Miners were joined by heavyweight Valeant Pharmaceuticals International Inc as well as some energy names in the push higher.

Gold's rise was helped by increased bets that the U.S. Federal Reserve will hold off on raising interest rates this year amid soft U.S. data and concerns over deflationary pressures in China.

The most influential movers on the index included Goldcorp Inc, which rose 3.4 percent to C$19.07, and Barrick Gold Corp, which advanced 5.5 percent to C$10.23. Mining finance company Franco-Nevada Corp added 2.7 percent to C$65.58 and the overall materials group climbed 2.2 percent.

The Toronto Stock Exchange's S&P/TSX composite index was up 89.33 points, or 0.65 percent, at 13,934.06. Nine of its 10 main sectors gained, with consumer staples down.

Advancers outnumbered decliners by 167 to 64, for a 2.61-to-1 ratio on the upside.   Continued...