CANADA STOCKS-TSX gains slightly, rally lacks momentum

Tue Sep 29, 2015 5:03pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds strategist comment, updates prices to close)

* TSX ends up 32.38 points, or 0.25 percent, at 13,036.96

* Seven of the TSX's 10 main groups gain

By Alastair Sharp

TORONTO, Sept 29 (Reuters) - Canada's main stock index rose on Tuesday in choppy trading, as energy and banking stocks helped lead the market back into positive territory after an earlier reversal, while index heavyweight Valeant Pharmaceuticals weighed.

The Toronto Stock Exchange's S&P/TSX composite index closed up 32.38 points, or 0.25 percent, at 13,036.96. Seven of its 10 main groups rose.

"They tried to rally, it was really oversold yesterday. But there's no real catalysts right now to turn this around," said Sid Mokhtari, director for institutional equity research at CIBC World Markets.

"People are still worried about the election in Canada as well as what is happening in the U.S. in terms of earnings."

The most influential gainers included Royal Bank of Canada , which rose 1.3 percent to C$72, and Bank of Nova Scotia , which advanced 1.3 percent to C$58.01. The overall financials group climbed 0.9 percent.   Continued...