CANADA STOCKS-TSX posts record high as oil prices, bond yields climb

Tue Feb 14, 2017 4:51pm EST
 
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(Adds portfolio manager quotes and background details and updates prices)

* TSX closes up 29.45 points, or 0.19 percent, at 15,786.03

* Index rises for the sixth straight day, posts new record high

* Five of the TSX's 10 main groups end higher

By Fergal Smith

TORONTO, Feb 14 (Reuters) - Canada's main stock index posted a fresh record high on Tuesday as higher oil prices and bond yields supported energy and financials, while auto suppliers benefited from U.S. President Donald Trump's warm words for Canadian trade the day before.

Bond yields jumped after Federal Reserve Chair Janet Yellen said it would be unwise to wait too long to raise U.S. interest rates.

Higher yields reduce the value of insurance companies' liabilities and increase banks' net interest margins.

Manulife Financial Corp rose 1.5 percent to C$24.95, while the overall financials group advanced 0.3 percent.   Continued...