CANADA STOCKS-TSX rises most in 7 weeks as oil rallies, investors buy post-Brexit

Wed Jun 29, 2016 4:31pm EDT
 
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(Adds analyst quote, updates prices)

* TSX closes up 194.05 points, or 1.4 percent, at 14,036.74

* Index touches its highest since June 23 at 14,057.97

* Nine of the TSX's 10 main groups end higher

By Fergal Smith

TORONTO, June 29 (Reuters) - Canada's main stock index scored its largest gain in seven weeks on Wednesday as higher oil prices boosted shares of energy companies and investors bought back into banks after the initial shock of Britain's vote to exit the European Union.

The broad gains echoed moves higher in global stocks as investors bet on central banks going easier on monetary policy in coming months.

The prospect of additional stimulus is supportive of commodity prices, a major driver of Canada's resource-linked market.

Investors may also be anticipating better earnings growth, said Kevin Headland, senior investment strategist at Manulife Asset Management.   Continued...