CANADA STOCKS-TSX ends up in volatile trade; energy and utilities jump

Tue Jul 7, 2015 5:04pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds portfolio manager comment, updates prices to close)

* TSX ends up 30.93 points, or 0.21 percent, at 14,624.50

* Nine of the TSX's 10 main groups rise

* Energy group gains 1.4 pct, utilities rise 2.1 pct

By Alastair Sharp

TORONTO, July 7 (Reuters) - Canada's main stock index erased a sharp fall to end in positive territory on Tuesday, with energy stocks rebounding with oil prices and utilities gaining on bets the Bank of Canada could cut rates next week to stimulate a struggling economy.

The Toronto Stock Exchange's S&P/TSX composite index ended up 30.93 points, or 0.21 percent, at 14,624.50.

It had fallen as low as 14,389.10 as investors fretted over Greece, China and a widening trade deficit.

"With crude oil today, it was approaching $50.50 and now it's at $52.80," said Elvis Picardo, strategist at Global Securities in Vancouver. "There's an undercurrent of bullishness and big dips will be met with some buying."   Continued...