CANADA STOCKS-TSX extends 17-month high helped by miners, banks

Tue Nov 22, 2016 10:35am EST
 
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(Adds details on specific stocks, updates prices)

* TSX up 32.85 points, or 0.22 percent, at 15,072.72

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

TORONTO, Nov 22 (Reuters) - Canada's main stock index gained in morning trade on Tuesday, extending a 17-month high as base metal mining and banking shares rose.

The most influential gainers included Teck Resources Ltd , which rose 3.3 percent to C$33.07, and First Quantum Minerals Ltd, which jumped 4 percent to C$15.39.

Prices for copper, which both companies mine, rallied 2 percent to a one-week high, powered by signs of tighter supply and increased Chinese demand and as investors broadly bet on rising U.S. inflation.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.2 percent as gold miners and fertilizer stocks fell.

Barrick Gold Corp shed 1.8 percent to C$20.30 and Potash Corp fell 1.5 percent to C$24.13.

At 10:13 a.m. EDT (1513 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 32.85 points, or 0.22 percent, at 15,072.72. Half of its 10 main groups were higher.   Continued...