CANADA STOCKS-TSX adds to 19-month high as financials rally

Thu Dec 8, 2016 4:57pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds portfolio manager quotes and details on financial companies and background, and updates prices)

* TSX closes up 57.45 points, or 0.38 percent, at 15,295.20

* Index posts highest close since May 2015

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

By Fergal Smith

TORONTO, Dec 8 (Reuters) - Canada's benchmark stock index added to a 19-month high on Thursday, led by heavyweight financial shares as bond yields climbed after the European Central Bank's monetary policy decisions.

The Toronto Stock Exchange's S&P/TSX composite index ended up 57.45 points, or 0.38 percent, at 15,295.20, its highest close since May 2015.

"There's a lot of optimism on potentially reflationary forces back in the market," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners of Richardson GMP.

Investors are betting that the policies of U.S. President-elect Donald Trump, such as infrastructure spending, tax cuts and deregulation of banks, will stimulate the economy.   Continued...