CANADA STOCKS-TSX edges slightly higher as materials stocks rebound

Thu Aug 25, 2016 5:41pm EDT
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(Adds analyst comments, details on materials and energy stocks; updates prices)

* TSX closes up 4.48 points, or 0.03 percent, at 14,630.72

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

By Fergal Smith

TORONTO, Aug 25 (Reuters) - Canada's main share index edged higher on Thursday as the materials group pared some recent losses before the start of a global central bankers' gathering and Canadian Imperial Bank of Commerce rose after better-than-expected earnings.

A modest gain for the index follows its biggest decline on Wednesday in more than eight weeks.

The market is on "tenterhooks," waiting for Friday's speech in Jackson Hole, Wyoming by Federal Reserve Chair Janet Yellen, said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.

If Yellen signals that interest rates are on hold through the end of 2016, then the Canadian market could rise to new highs for the year, Nakamoto added.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.9 percent, turning higher after having hit a two month low earlier in the session.   Continued...