CANADA STOCKS-TSX ends at 16-month high as resource stocks shine

Wed Oct 19, 2016 4:44pm EDT
 
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(Updates prices to close)

* TSX ends up 88.24 points, or 0.60 percent, at 14,840.49

* Index touches and settles at highs last seen in June 2015

* Seven of the index's 10 main groups make gains

By Fergal Smith and Alastair Sharp

TORONTO, Oct 19 (Reuters) - Canada's main stock index closed at its highest since June 2015 on Wednesday, led by energy and mining companies, as oil surged and gold rose, while financial stocks also gained ground.

The index has rebounded nearly 29 percent since falling to a three-year low in January but had been unable to reach new highs since August.

"As long as you have the economy continuing to do OK and you have a bid on the energy side and a stabilization of oil prices, I think there is room for the market to head higher into year end," said Bryden Teich, portfolio manager at Avenue Investment Management.

The Toronto Stock Exchange's S&P/TSX composite index closed up 88.24 points, or 0.60 percent, at 14,840.49, its highest finish since June 25, 2015.   Continued...