CANADA STOCKS-TSX bounces on broad rally led by gold miners, financials

Fri Apr 28, 2017 5:17pm EDT
 
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* TSX up 79.66 points, or 0.51 percent, to 15,586.13

* Nine of the TSX's 10 main groups were up

By Solarina Ho

TORONTO, April 28 (Reuters) - Canada's main stock index rose on Friday as banks and mining companies, heavyweights on the index, rebounded from the previous day's slump.

The Toronto Stock Exchange's S&P/TSX composite index rose 79.66 points, or 0.51 percent, to 15,586.13. The index eked out a small 0.2 percent gain on the week.

Of the index's 10 main groups, all but industrials, which fell 0.1 percent, gained during the session.

The materials group, which includes precious and base metals miners and fertilizer companies, ended 1.9 percent higher.

"They've been weak all week. Principally, they're a little bit better when the GDP came out in the United States," said John Ing, president of Maison Placements Canada. "That alleviates any pressure on rates so that caused that group to be a little bit better."

Economic data showed the U.S. economy grew at its weakest pace in three years during the first quarter.   Continued...