CANADA STOCKS-TSX rallies to nearly 4-week high, led by mining stocks

Mon Jul 4, 2016 11:01am EDT
 
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* TSX up 213.19 points, or 1.52 percent, to 14,277.73

* Index touched its highest since June 8 at 14,279.24

* All of the TSX's 10 main groups were higher

TORONTO, July 4 (Reuters) - Canada's main stock index rallied to a nearly four-week high on Monday, led by mining stocks as gold and silver climbed, while financial and energy stocks also advanced.

Gains for the index follow a 1.2 percent advance last week and a 4.2 percent gain for the second quarter. The market was closed on Friday for Canada Day.

U.S. markets are closed on Monday for the Independence Day holiday.

Silver Wheaton Corp rallied 6.2 percent to C$32.28 and Barrick Gold Corp climbed 5.1 percent to C$28.98, while the overall materials group, which includes precious and base metals miners and fertilizer companies, added 4.7 percent.

Gold rose as political uncertainty following Britain's vote to leave the European Union supported prices after a burst of short-covering activity in China had pushed them back toward last week's two-year high.

Silver also benefited from a surge of buying in China which at one point took it up more than 7 percent, breaking above $21 an ounce for the first time in two years.   Continued...