CANADA STOCKS-TSX rises to a 12-day high as commodities rally

Wed Sep 21, 2016 11:15am EDT
 
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(Adds details throughout on sectors and stocks, updates prices)

* TSX rises 109.81 points, or 0.76 percent, to 14,631.79

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

TORONTO, Sept 21 (Reuters) - Canada's main stock index rose to its highest in 12 days on Wednesday as mining and energy stocks led a broad rise with higher commodity prices.

U.S. crude oil prices rose more than 2 percent after a surprisingly large drop in U.S. crude inventories, while gold climbed after the Bank of Japan adopted a target for long-term interest rates and as investors bet that the Federal Reserve will hold back from a rate increase later on Wednesday.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.8 percent.

Barrick Gold Corp rose 2.3 percent to C$23.24 and Goldcorp Inc advanced 3 percent to C$21.40.

TransCanada Corp rose 1.1 percent to C$62.63, while the overall energy group was up 1.2 percent.

At 11:02 a.m. EDT (1502 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 109.81 points, or 0.76 percent, to 14,631.79. Nine of the index's 10 main groups were higher.   Continued...