CANADA STOCKS-TSX edges higher in seesaw session after Yellen speech

Fri Aug 26, 2016 5:53pm EDT
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(Adds analyst comments, details on Fed officials and details on stocks throughout, updates prices)

* TSX ends up 9.16 points, or 0.06 percent, at 14,639.88

* Five of the TSX's 10 main groups rise

By Fergal Smith

TORONTO, Aug 26 (Reuters) - Canada's main stock index edged higher in a seesaw session on Friday, led by financial and industrial stocks as investors raised bets for U.S. interest rate hikes this year after a speech by Federal Reserve Chair Janet Yellen.

For the week, the Toronto Stock Exchange's S&P/TSX composite index fell 0.3 percent. Still, it has rallied 27 percent since hitting a three-year low in January.

Much of the fluctuation in the index on Friday was driven by comments from Fed officials, said John Kinsey, portfolio manager at Caldwell Securities.

The index reached its highest for the day after Yellen failed to lay out a clear roadmap for what the Fed needs to see to raise interest rates in a speech in Jackson Hole, Wyoming.

But most of the gains were pared as Fed Vice Chair Stanley Fischer reinforced the message that the U.S. economy has strengthened.   Continued...