CANADA STOCKS-TSX hits one-month high as resources gain

Tue Apr 7, 2015 4:32pm EDT
 
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(Adds fund manager comments, updates prices to close)

* TSX ends up 88.19 points, or 0.58 percent, at 15,188.84

* Eight of the 10 main index sectors advance

By Alastair Sharp

TORONTO, April 7 (Reuters) - Canada's main stock index advanced to its highest in more than a month on Tuesday, lifted by gains among its biggest banks and some major energy companies as oil prices climbed.

The broad gains were echoed in global markets, with potential deal activity boosting European indexes as well as Wall Street.

"The TSX is starting to pick up, and one of the reasons is the boiling over of oil prices," said Barry Schwartz, a portfolio manager at Baskin Financial Services. "I'm in the positive camp for being overweight equities."

Crude oil prices rallied after strong U.S. labor data and lower production forecasts.

The Toronto Stock Exchange's S&P/TSX composite index ended the session up 88.19 points, or 0.58 percent, at 15,188.84. Eight of the 10 main sectors on the index gained.   Continued...