CANADA STOCKS-TSX advances as energy, bank shares gain

Wed Feb 11, 2015 4:27pm EST
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* TSX up 38.98 points, or 0.26 percent, at 15,151.50

* Six of 10 main index sectors advance

* Air Canada tumbles after earnings report

By John Tilak

TORONTO, Feb 11 (Reuters) - Canada's main stock index ended higher on Wednesday as gains in the energy and financial sectors helped offset uncertainty surrounding discussions on a Greek debt deal.

A meeting between Greek Finance Minister Yanis Varoufakis and his euro zone peers was under way and comes after the country's new leftist-led government won a parliamentary confidence vote on its refusal to extend an international bailout.

The benchmark TSX has gained in each of the last three sessions and is up about 3.3 percent so far this month, rebounding after a sluggish start this year.

"Despite the uncertainties, the market is displaying quite a bit of resilience being at these levels," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.

"You tend to see this kind of choppiness at turning points," he added. "It could indicate that the market could be coming to terms with the lower oil price and the focus now is the value that some of these energy producers offer."   Continued...