CANADA STOCKS-TSX rises as commodities, bank gain

Mon Aug 10, 2015 4:41pm EDT
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(Adds investor comment, updates prices to close)

* TSX ends up 163.69 points, or 1.14 percent, to 14,466.39

* Half of the TSX's 10 main groups close higher

By Alastair Sharp

TORONTO, Aug 10 (Reuters) - Canada's main stock index rebounded on Monday, with robust gains from major banks and a surge in some gold miners and energy companies helping the index rise over 1 percent, more than cancelling out Friday's slump.

Four of the six biggest positive drivers were banks. The financials group, which also includes insurers and makes up roughly a third of the index, climbed 1.2 percent.

Toronto-Dominion Bank advanced 1.6 percent to C$53.25, Royal Bank of Canada rose 1.2 percent to C$77.28, and Bank of Montreal added 1.4 percent to C$73.79.

"In a period of zero interest rates they remain attractive," said John Ing, president of Maison Placements Canada. "The dividends of the banks are a good refuge."

But while the energy group jumped almost 3 percent, Ing said the outlook is more uncertain in that major part of the index.   Continued...