CANADA STOCKS-TSX rises, led by energy and financials as oil rallies

Thu Sep 22, 2016 4:57pm EDT
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(Adds analyst quotes and details on index's performance, updates prices)

* TSX closes up 86.36 points, or 0.59 percent, at 14,797.18

* Index touches its highest in nearly 3 weeks at 14,841.23

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

By Fergal Smith

TORONTO, Sept 22 (Reuters) - Shares of energy and financial companies led a broad rally on Canada's main stock index on Thursday as oil prices rose and investors digested the U.S. Federal Reserve's more cautious approach to future rate hikes.

The Toronto Stock Exchange's S&P/TSX composite index has rallied 1.9 percent over the past two days, although stopping short of an August peak at 14,855.69 that, if breached, would push it to its highest since June 2015.

"It's still a follow through from yesterday's price action for the broader markets, not just the TSX.", said Sid Mokhtari, director, institutional equity research, CIBC World Markets.

World stock indexes advanced and the Nasdaq hit a record high while bonds rallied, a day after the Fed scaled back the number of rate increases expected in 2017 and 2018.   Continued...