CANADA STOCKS-TSX edges higher, helped by gains for resource stocks

Tue Apr 26, 2016 5:26pm EDT
 
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(Adds portfolio manager quotes, details on gold stocks and Encana, updates prices)

* TSX closes up 13.45 points, or 0.1 percent, at 13,809.44

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

By Fergal Smith

TORONTO, April 26 (Reuters) - Canada's benchmark stock index edged higher on Tuesday as a jump in oil prices supported energy stocks, while the materials group also advanced, offsetting deep losses for one of the country's major railway stocks.

The index traded in a narrow range ahead of the Federal Reserve interest rate announcement on Wednesday.

Investors have been "walking on eggshells," adjusting positions ahead of the Fed announcement, said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.

He doesn't see a lot of "downside" risk for the market while bond yields remain so low.

The Toronto Stock Exchange's S&P/TSX composite index closed up 13.45 points, or 0.1 percent, at 13,809.44.   Continued...