CANADA STOCKS-TSX rises to 2-week high as resource stocks rally

Tue Oct 18, 2016 5:05pm EDT
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(Adds portfolio manager quotes and details on U.S. stock market performance and updates prices)

* TSX closes up 155.73 points, or 1.07 percent, at 14,752.25

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

By Fergal Smith

TORONTO, Oct 18 (Reuters) - Canada's main stock index rose to a more than 2-week high on Tuesday as rising oil and gold prices supported resource stocks, while shares of financial companies also climbed in a broad-based rally.

The materials group, which includes precious and base metals miners and fertilizer companies, added 3.3 percent, while the energy group was up 0.9 percent.

"It's largely been driven by oil and gold, but that's sort of the way its been over the last couple of months," said John Stephenson, president & CEO at Stephenson & Company Capital Management.

Spot gold rose 0.5 percent, while U.S. crude oil futures settled 35 cents higher at $50.29 a barrel as expectations of OPEC output curbs lifted prices.

Teck Resources jumped 6 percent to C$27.10, touching its highest since February 2014, after several banks upped their price targets and outlooks for the stock on Monday.   Continued...