CANADA STOCKS-TSX barely adds to near 16-month peak

Thu Oct 20, 2016 5:11pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds strategist comment, updates prices to close)

* TSX ends up 7.43 points, or 0.05 percent, at 14,847.92

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

By Alastair Sharp

TORONTO, Oct 20 (Reuters) - Canada's main stock index inched higher on Thursday after hitting a near 16-month peak the previous day, as modest gains in heavyweight gold mining and banking stocks helped offset weakness among consumer and industrial names.

The energy sector also provided a lift, despite oil prices falling on the day, as investors bid up some shares in light of a broader push higher for crude.

"This is a fairly important change with the price of oil through $50 (a barrel) and looking like it's probably going to hold," said Paul Taylor, an investment strategist for BMO Harris Private Banking.

Suncor Energy Inc was among the most influential gainers, up 1 percent to C$38.77.

Altagas Ltd advanced 4.3 percent to C$34.96 after posting strong quarterly earnings.   Continued...