CANADA STOCKS-TSX just short of all-time high as financials, energy stocks gain

Wed Jan 25, 2017 5:16pm EST
 
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(Adds strategist comment, updates prices to close)

* TSX ends up 33.15 points, or 0.21 percent, at 15,643.84

* Index nears 15,685.13, its all-time high hit in September 2014

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

By Alastair Sharp

TORONTO, Jan 25 (Reuters) - Canada's main stock index edged toward an all-time high on Wednesday, boosted by financial stocks as bond yields rose and by energy stocks in the wake of U.S. President Donald Trump's move to advance two major pipeline projects.

The Toronto Stock Exchange's S&P/TSX composite index closed up 33.15 points, or 0.21 percent, at 15,643.84, just off its September 2014 record peak of 15,685.13.

The move towards that record came as the Dow Jones Industrial Average closed above 20,000 for the first time, helped by solid earnings and as optimism over Trump's pro-growth initiatives revitalized a post-election rally.

"Canada will benefit from a better U.S. economic environment," said Kevin Headland, senior investment strategist at Manulife Investments. "The pro-pipeline stance is just another benefit that I think Trump and the Republican Party is going to provide to Canada."   Continued...