CANADA STOCKS-TSX edges higher as gold miners, telecoms climb

Mon Dec 19, 2016 5:31pm EST
 
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(Adds portfolio manager quotes and details on geopolitics, gold and telecom stocks and updates prices)

* TSX ends up 17.65 points, or 0.12 percent, at 15,269.85

* Seven of the TSX's 10 main groups climb

By Fergal Smith

TORONTO, Dec 19 (Reuters) - Canada's main stock index gained for the third straight session on Monday, with gold miners and telecom shares climbing as political tensions rose and bond yields declined.

The most influential movers on the index included Agnico Eagle Mines Ltd, which rose nearly 3 percent to C$51.18, and Barrick Gold Corp, which advanced 0.8 percent to C$19.10.

Gold edged higher as expectations of tighter U.S. monetary policy and a stronger U.S. dollar were offset by geopolitical tensions after the Russian ambassador to Turkey was shot dead at an Ankara art gallery.

Telecom stocks rose 0.6 percent, with Rogers Communications Inc climbing 1.6 percent to C$51.73, as safe haven demand helped drive bond yields lower.

Defensive sectors, such as telecoms, have benefited from a low yield environment. They had underperformed recently as bond yields climb.   Continued...