CANADA STOCKS-TSX jumps to 19-month high, led by cyclical stocks

Wed Dec 7, 2016 5:10pm EST
 
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(Adds analyst quotes and details on Reuters poll, Bank of Canada rate decision, stocks and background, updates prices)

* TSX ends up 111.95 points, or 0.74 percent, at 15,237.75

* Index reaches its highest since May 2015

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

By Fergal Smith

TORONTO, Dec 7 (Reuters) - Canada's benchmark stock index jumped to a 19-month high on Wednesday as gains for sectors that benefit most from stronger economic growth offset a drop in energy shares prompted by lower oil prices.

The Toronto Stock Exchange's S&P/TSX composite index closed up 111.95 points, or 0.74 percent, at 15,237.75, its highest since May 2015.

"We are seeing a more offensive behavior in the market" as investors bet on higher growth and inflation, said Sid Mokhtari, director, institutional equity research, CIBC World Markets.

The financials group rose 0.8 percent, industrials gained 1 percent and information technology was up 2.1 percent.   Continued...