CANADA STOCKS-TSX rises as commodities rally; ends 1 pct lower for week

Fri Jun 17, 2016 5:04pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds portfolio manager comment, details on financial stocks, updates prices)

* TSX closes up 19.36 points, or 0.14 percent, at 13,901.77

* Four of the TSX's 10 main groups end higher

* Index loses 1 percent for the week

By Fergal Smith

TORONTO, June 17 (Reuters) - Canada's main stock index edged higher on Friday as commodities rallied and global worries about Britain voting to leave the European Union next week abated.

Still, the index fell 1 percent for the week and has pulled back 3.8 percent from a recent 10-month peak as markets became jittery ahead of Britain's referendum.

Reasonable earnings, economic recovery and low interest rates are supportive of stocks, but lack of clarity about the outcome of the referendum and related volatility may restrain investors near-term, said Irwin Michael, portfolio manager at ABC Funds.

"People don't want to hold anything that could have some speculation or risk to it," he said.   Continued...