CANADA STOCKS-TSX rallies to nearly 4-week high, led by mining stocks

Mon Jul 4, 2016 5:17pm EDT
 
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(Adds analyst quotes, details on domestic data, updates prices)

* TSX closes up 194.33 points, or 1.38 percent, at 14,258.87

* Index touches its highest since June 8 at 14,291.62

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

By Fergal Smith

TORONTO, July 4 (Reuters) - Canada's main stock index, powered by mining stocks, rallied to a nearly four-week high on Monday, as gold and silver climbed, while financial and energy stocks also advanced.

Gains for the index came as U.S. markets were closed for the Independence Day holiday. It left the index more than 23 percent above its three-year low in January and within reach of a nearly 10-month high reached in June at 14,450.91.

"Anything that we can produce in Canada and sell outside of Canada should be viewed positively," said Sid Mokhtari, director, institutional equity research, at CIBC World Markets.

He expects "durability in the commodities complex" to help Canada's stock market outperform Wall Street this year.   Continued...