CANADA STOCKS-TSX hits seven-week high as gold miners jump
* TSX up 83.02 points, or 0.56 percent, at 14,965.52 * Nine of the 10 main index sectors advance * Index up almost 10 percent from its October low By John Tilak TORONTO, Nov 18 (Reuters) - Canada's main stock index reached its highest in seven weeks on Tuesday on a jump in shares of gold miners and a broad rally in other sectors as well as on news that Japan will delay a sales-tax increase that had threatened to further dampen its economy. Japanese Prime Minister Shinzo Abe, who announced a snap election so he could seek a fresh mandate, said the planned rise in the sales tax to 10 percent would be delayed until April 2017. The Toronto stock market's benchmark TSX was higher for a third straight session and is up nearly 10 percent from an eight-month low in October. It has also advanced in each of the last five weeks. "We're seeing a nice rebound for Canadian stocks here," said Colin Cieszynski, chief market strategist at CMC Markets. "Things are looking up for the TSX," he added. "We are in a seasonally favorable period for stocks, and it's also a seasonally favorable period for some of the key markets underlying the TSX." The Toronto Stock Exchange's S&P/TSX composite index was up 83.02 points, or 0.56 percent, at 14,965.52. Nine of the 10 main sectors on the index were higher. Financials, the index's most heavily weighted sector, advanced, with Bank of Nova Scotia climbing 0.5 percent to C$69.09. The gold-mining sector rose 3 percent, reflecting strength in the price of bullion. Barrick Gold Corp jumped 3.8 percent to C$14.60, and Goldcorp Inc added 1.8 percent to C$23.59. Valeant Pharmaceuticals International Inc gained 4 percent to C$160.68, helping drive up the healthcare sector. ($1=$1.13 Canadian) (Editing by Peter Galloway)
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