CANADA STOCKS-TSX rises with financials as gold miners slump

Thu Dec 15, 2016 4:58pm EST
 
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(Adds portfolio manager quotes, details on Manulife)

* TSX ends up 21.13 points, or 0.14 percent, at 15,218.31

* Gain follows sharpest fall in a month on Wednesday

* Six of the index's 10 main groups rise

By Fergal Smith

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

The Toronto Stock Exchange's S&P/TSX composite index closed up 21.13 points, or 0.14 percent, at 15,218.31, while U.S. stocks continued to hover near record levels as investors viewed the Fed's interest rate outlook as a sign of confidence in the economy.

"As long as the consumer remains healthy and we're having wage inflation, the U.S. economy should remain quite strong," said Ben Jang, portfolio manager at Nicola Wealth Management.

"Generally the equity markets can easily absorb rates rising to a certain point."   Continued...