CANADA STOCKS-TSX bounces as gold shines, rate-sensitive stocks still drag

Mon Nov 14, 2016 5:23pm EST
 
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* TSX up 43.04 points, or 0.3 percent, to 14,598.45

* Six of the TSX's 10 main groups rise

TORONTO Nov 14 (Reuters) - Canada's main stock index rebounded on Monday as bank stocks recouped earlier losses, and gold miners bucked weaker bullion prices.

The most influential movers on the index included Toronto Dominion Bank, which rose just over 2 percent to C$62.92, and Manulife Financial, which climbed 3.3 percent to finish at C$23.16.

Gains for financials came as global bond yields surged, with investors betting that U.S. President-elect Trump will pursue policies that will trigger higher inflation. The overall financials group, which accounts for just over a third of the index's weight, was up 0.8 percent.

The Toronto Stock Exchange's S&P/TSX composite index closed up 43.04 points, or 0.3 percent, to 14,598.45.

Six of the index's 10 main groups advanced.

Among gold firms, Goldcorp rose 1.7 percent to C$18.11, while Barrick Gold Corp pared sharp losses earlier to end 1 percent weaker at C$19.86.

Spot gold hit a five-month low as the dollar and U.S. Treasury yields strengthened on expectations that Trump will boost spending.   Continued...