CANADA STOCKS-TSX rises as banks gain; gold miners weigh

Thu Dec 15, 2016 10:38am EST
 
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(Adds details on specific stocks, updates prices)

* TSX up 41.65 points, or 0.27 percent, at 15,238.83

* Gain followed sharpest fall in a month on Wednesday

TORONTO, Dec 15 (Reuters) - Canada's main stock index rose on Thursday, helped by broad gains for financial stocks a day after the U.S. Federal Reserve hiked interest rates and struck a hawkish note on further increases, a move which weighed on Canadian gold miners.

Energy stocks also gained despite a pullback in oil prices caused in part by a surging U.S. dollar, while Bombardier surged 3.7 percent to C$1.98 after saying growth in its rail business and the ramp-up of the C Series aircraft program should help boost full-year consolidated revenue in 2017 by a low single-digit percentage..

At 10:09 a.m. EDT (1509 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 41.65 points, or 0.27 percent, at 15,238.83. It had its sharpest fall in a month in the prior session.

A string of gold miners topped the list of the index's most influential weights, with Barrick Gold Corp falling 3.7 percent to C$18.81 and Yamana Gold Inc down 6.4 percent at C$3.49.

Gold prices hit their lowest level since early February as the Fed's policy statement pushed U.S. bond yields up, lifting the opportunity cost of holding the non-yielding precious metal.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.8 percent.   Continued...