CANADA STOCKS-TSX closes up, breaks 5-day slide as miners gain

Wed Jun 15, 2016 5:17pm EDT
 
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(New throughout, updates prices and market activity to close, adds fund manager comment, Fed details)

* TSX ends up 39.22 points, or 0.28 percent, at 13,923.45

* Seven of the TSX's 10 main groups rise

By Alastair Sharp

TORONTO, June 15 (Reuters) - Canada's benchmark stock index closed higher on Wednesday after five days of declines, with miners and other materials stocks leading a broad but subdued rebound as the U.S. Federal Reserve hinted at a less aggressive outlook for interest rates.

The Toronto Stock Exchange's S&P/TSX composite index closed up 39.22 points, or 0.28 percent, at 13,923.45, lifting it off a near one-month low.

"Essentially everything is flat except for materials," said Manash Goswami, a portfolio manager at First Asset Investment Management Inc, pointing to a dovish Fed as supportive for gold.

"There is also a lot of uncertainty coming up with the Brexit vote next week," he said, referring to a June 23 British vote on whether to leave the European Union.

Worries that Britain, the world's fifth-largest economy, could quit the EU have dominated markets this week and driven investors towards safe-haven assets such as gold.   Continued...