CANADA STOCKS-TSX rises to 11-month high, led by financials

Wed Jul 20, 2016 4:48pm EDT
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(New throughout, updates prices and market activity to close, adds comments)

* TSX ends up 8.96 points, or 0.06 percent, at 14,533.57

* Eight of the TSX's 10 main groups gain

By Alastair Sharp

TORONTO, July 20 (Reuters) - Canada's main stock index rose to an 11-month high, then retraced gains to end barely higher on Wednesday, with gains for railways and banks offset by sharp losses among gold miners.

Shares in Canadian Pacific Railway Ltd jumped 5.5 percent to C$196.26 after the company said it expects volumes to improve in the second half, especially in grains.

Its larger rival Canadian National Railway Co added 1.9 percent to C$83.13. The pair helped push the industrials group up 1.9 percent overall.

The Toronto Stock Exchange's S&P/TSX composite index closed up 8.96 points, or 0.06 percent, at 14,533.57. It touched its highest since Aug. 5 at 14,567.35.

"Stock markets around the world are at all time highs and no one is that excited about it," said James Winckler, research associate at MacNicol and Associates Asset Management.   Continued...