CANADA STOCKS-TSX rises for third straight day, up 4.2 pct for Q2

Thu Jun 30, 2016 5:22pm EDT
 
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(Adds portfolio manager quotes, details on performance and utilities group, updates prices)

* TSX ends up 27.8 points, or 0.2 percent, at 14,064.54

* Eight of the TSX's 10 main groups end lower

* Index gains 1.2 in short week; near flat for June

* Index rises 4.2 percent in the second quarter

By Fergal Smith

TORONTO, June 30 (Reuters) - Canada's main stock index closed higher on Thursday as a rally in gold stocks offset losses for financial sector stocks and lift the market for a third straight session.

The index was nearly unchanged for the month of June, but rose 1.2 percent on the week and 4.2 percent for the second quarter. Its heavy concentration of gold miners helped limit a selloff in the wake of Britain's vote to leave the European Union last week. The market will be closed on Friday for a national holiday.

"The precious metal stocks are going, I think, to be fairly strong through the summer," said James Winckler, research associate at MacNicol and Associates Asset Management, who expects them to benefit from a "flight to safety."   Continued...