CANADA STOCKS-TSX falls as growth worries weigh on banks, energy stocks

Wed Jul 6, 2016 5:00pm EDT
 
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(Adds advisor comment, details; updates prices to close)

* TSX ends up 11.49 points, or 0.08 percent, at 14,231.06

* Six of the TSX's 10 main groups move higher

By Alastair Sharp

TORONTO, July 6 (Reuters) - Canada's benchmark stock index eked out a gain on Wednesday, helped by a surge in Valeant Pharmaceuticals, a rebound in oil prices that boosted energy stocks, and continued strength in gold miners as bullion extended a run that has pushed it to a two-year high.

Yield-hungry investors also sought out utilities and telecom shares, while global growth worries weighed on financials and a tepid domestic economy hurt consumer names.

The Toronto Stock Exchange's S&P/TSX composite index ended up 11.49 points, or 0.08 percent, at 14,231.06. Six of its 10 main sectors rose.

It had fallen almost 1 percent earlier in the session, as investors fretted about the impact that Britain's vote to leave the European Union will have on the global economy.

U.S. indexes gained more, with the Federal Reserve expecting to hold off on raising U.S. interest rates even as the country's economy regains steam.   Continued...