CANADA STOCKS-Gold miners help TSX eke out gain, energy stocks weigh

Wed Jul 13, 2016 4:49pm EDT
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(Adds portfolio manager comment, updates prices to close)

* TSX ends up 16.13 points, or 0.11 percent, to 14,493.80

* Six of the TSX's 10 main groups finish higher

By Alastair Sharp

TORONTO, July 13 (Reuters) - Canada's main stock index made a small gain on Wednesday as gold miners advanced on a bullion price recovery while energy stocks weighed with a fall in oil prices as U.S. inventory data renewed concerns over a global glut.

"Energy's got a little more pressure on it given declines in WTI (West Texas Intermediate) and concerns over the storage levels, however gold has found a bid to put the TSX in the black today," said Chris King, vice president and portfolio manager at Morgan Meighen & Associates.

The Toronto Stock Exchange's S&P/TSX composite index ended up 16.13 points, or 0.11 percent, to 14,493.80. That added to Tuesday's close, the highest since August. Six of the index's 10 main groups ended in positive territory.

Gold recovered from its lowest in nearly two weeks, as prospects for further economic stimulus helped to bolster investor appetite.

The most influential gainers on the index included Agnico Eagle Mining, up 4 percent to C$73.73, and Barrick Gold Corp, which advanced 1.8 percent to C$27.36.   Continued...