CANADA STOCKS-TSX gains as miners benefit from higher commodity prices

Wed Feb 8, 2017 4:53pm EST
 
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(Adds comment, updates prices to close)

* TSX settles up 55.24 points, or 0.36 percent, at 15,554.04

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

By Alastair Sharp

TORONTO, Feb 8 (Reuters) - Canada's benchmark stock index ended up on Wednesday after a slow start as an oil price rebound helped some energy stocks, and gold and base metal miners rose as political uncertainty boosted bullion and a likely squeeze on supply pushed copper prices higher.

The materials group, which includes miners and fertilizer companies, added 0.9 percent.

Barrick Gold Corp advanced 1.2 percent to C$25.75 and Goldcorp Inc rose 1.1 percent to C$22.27 as bullion hit a three-month peak.

First Quantum Minerals Ltd ended 2.3 percent higher at C$16.29 and Lundin Mining Corp jumped 4.4 percent to C$8.27 as copper prices rose after the world's top two mines said strikes and permit delays would force them to cut output, squeezing global supply.

The Toronto Stock Exchange's S&P/TSX composite index settled up 55.24 points, or 0.36 percent, at 15,554.04. Eight of the index's 10 groups ended higher, with advancers outnumbering declining issues by a 2.3-to-1 ratio.   Continued...