CANADA STOCKS-TSX edges higher as mining stocks rebound

Thu Aug 25, 2016 10:47am EDT
 
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* TSX up 17.33 points, or 0.12 percent, to 14,643.57

* Five of the TSX's 10 main groups higher

TORONTO Aug 25 (Reuters) - Canada's main stock edged slightly higher on Thursday, helped by a rebound in mining stocks and gains for Canadian Imperial Bank of Commerce after better-than-expected earnings.

The steady performance for the index follows its biggest decline on Wednesday in more than eight weeks.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.3 percent as gold stocks rebounded after losses on Wednesday.

Fluctuation in gold stocks comes ahead of a speech on Friday by Federal Reserve Chair Yellen that might offer clues on the outlook for U.S. interest rates.

Goldcorp Inc rose 1.9 percent to C$21.11, but after having hit a four-month low earlier in the session at C$20.36.

Reuters reported on Wednesday that Mexican regulators said they are examining whether mining company Goldcorp broke any regulations in its handling of a long-running leak of contaminated water at Mexico's biggest gold mine.

Spot gold hit a four-week low, pressured by upbeat U.S. durable goods orders data in the run-up to Yellen's speech.   Continued...