CANADA STOCKS-TSX rises as investors cheer central bank measures

Fri Jan 23, 2015 10:40am EST
 
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* TSX up 30.05 points, or 0.2 percent, at 14,794.03

* Six of 10 main index sectors advance

* Energy shares climb with oil prices

By John Tilak

TORONTO, Jan 23 (Reuters) - Canada's main stock index advanced to its highest in nearly 2 months on Friday as investors welcomed moves by the Bank of Canada and the European Central Bank earlier this week.

The Canadian central bank unexpectedly cut interest rates on Wednesday, while the ECB announced a massive stimulus plan on Thursday to try to boost a sagging euro zone economy.

The benchmark TSX extended gains after jumping during the previous two sessions. It is on track to record a sharp rise this week.

"We're in a digestion stage. These are big moves on the part of the central banks," said David Cockfield, managing director and portfolio manager at Northland Wealth Management.

"I'm relatively positive on the long-term outlook," he added. "I'm not a huge bear or a huge bull on the market. I think the market is reasonably priced here."   Continued...