CANADA STOCKS-Rise in banks, consumer stocks help TSX eke out 6th gain

Wed Aug 5, 2015 5:16pm 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 11.94 points, or 0.08 percent, at 14,502.99

* Six of 10 main groups rise; index up for 6th day

By Alastair Sharp

TORONTO, Aug 5 (Reuters) - Canada's main stock index eked out a slight gain on Wednesday, as investors bought up bank and consumer stocks, while a slip in prices for oil and other commodities hurt energy companies and miners.

The Toronto Stock Exchange's S&P/TSX composite index recorded its sixth straight rise, ending up 11.94 points, or 0.08 percent, at 14,502.99.

"There still seems to be that trend by a number of investors to purchase non-resource common stocks, such as consumer stocks," said Irwin Michael, a portfolio manager at ABC Funds.

Valeant Pharmaceuticals International, an acquisitive drugmaker that has risen quickly to become a major force on the index, rose 1.1 percent to C$346.32.

The most influential movers on the index also included Royal Bank of Canada, which rose 0.9 percent to C$77.20, and Toronto-Dominion Bank, which advanced 0.8 percent to C$53.25. The overall financials group climbed 0.5 percent.   Continued...