CANADA STOCKS-TSX at highest since August as oil, metals prices support

Mon Jun 6, 2016 6:14pm EDT
 
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(Adds portfolio manager comment, updates prices to close)

* TSX ends up 49.38 points, or 0.35 percent, at 14,276.16

* Six of the TSX's 10 main groups rise

By Alastair Sharp

TORONTO, June 6 (Reuters) - Canada's main stock index hit a more than nine-month high on Monday as commodity price gains helped boost the index's heavyweight energy sector and base metal miners, although gold miners pulled back after last week's rally.

Oil prices rose for a third straight day, hovering around $50 a barrel and helping the index's energy group climb 1.8 percent.

The most influential gainers included Crescent Point Energy Corp, which rose 4.7 percent to C$22.86, and Enbridge Inc, up 1.2 percent at C$53.79.

Miners, hit hard last year by worries about demand that weighed on prices, were also among the biggest gainers.

"If you would have started this year off by buying yesterday's losers, the dogs of the TSX, the ones that got slammed and beaten up, you would have done OK," said Barry Schwartz, portfolio manager at Baskin Financial Services.   Continued...