CANADA STOCKS-TSX rises, led by consumer and railway stocks

Mon Jul 18, 2016 4:46pm EDT
 
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(Adds portfolio manager comments and details on railway and telecommunication stocks, updates prices)

* TSX up 31.82 points, or 0.22 percent, to 14,514.24

* Nine of the TSX's 10 main groups gain

By Fergal Smith

TORONTO, July 18 (Reuters) - Canada's main stock index rose on Monday, led by consumer and railway stocks as investor attention returned to corporate earnings after a failed military coup in Turkey late last week.

The index has gained ground in six of the last seven sessions. It reached an 11-month high on Thursday at 14,558.12 before the rally paused on Friday.

"We are in a wait and see time frame for earnings," said Greg Eckel, senior vice president at Morgan Meighen & Associates.

Investors that are worried about valuations having gotten "out of hand" are waiting for forward guidance from corporations, Eckel added.

Restaurant Brands International Inc, which owns Tim Hortons and Burger King, rose 4.1 percent to C$56.18 and Magna International Inc climbed 1.8 percent to C$49.33. The overall consumer discretionary group advanced 1.3 percent.   Continued...