CANADA STOCKS-TSX gains amid U.S. optimism, led by resource shares

Mon Dec 5, 2016 5:07pm EST
 
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(Adds portfolio manager quotes and details on Wall Street rally, copper, industrials and Alberta royalty credits; updates prices)

* TSX ends up 42.65 points, or 0.28 percent, at 15,095.17

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

By Fergal Smith

TORONTO, Dec 5 (Reuters) - Canada's benchmark stock index rose on Monday as recent strength in commodity prices supported the energy and materials groups, while a fresh record high for the Dow Jones industrials boosted investor confidence.

Wall Street has rallied since the U.S. election as investors bet that President-elect Donald Trump will deliver significant economic stimulus and cuts in corporate taxes and regulations.

U.S. optimism "is carrying over into our market," said Brian Pow, vice president, research at Acumen Capital Partners.

The Toronto Stock Exchange's S&P/TSX composite index closed up 42.65 points, or 0.28 percent, at 15,095.17. Seven of the index's 10 main groups ended higher.   Continued...