CANADA STOCKS-TSX hits record high after Fed comment

Wed Aug 20, 2014 4:45pm EDT
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* TSX up 84.78 points, or 0.55 percent, at 15,561.95
    * Nine of 10 main index sectors advance
    * Energy shares climb with oil price

    By John Tilak
    TORONTO, Aug 20 (Reuters) - Canada's main stock index
touched a record high on Wednesday after commentary from the
Federal Reserve suggested that the U.S. central bank's monetary
policy will remain market-friendly for now.
    Minutes from a recent policy meeting indicated that the Fed
will not raise interest rates until it has more confidence in
the strength of the economic recovery. 
    Investors will be looking for further clues about the
central bank's outlook for interest rates when Fed Chair Janet
Yellen addresses policymakers in Jackson Hole, Wyoming later
this week.
    The Toronto equity market has gained in each of the last
five sessions and is up more than 14 percent this year. It is
one of the strongest performers among its global peers.
    "Things are coming together for the TSX. All the cards are
playing out in its favor," said Elvis Picardo, strategist and
vice president of research at Global Securities in Vancouver.
    "The easy money certainly has been made, but the conditions
are still conducive for further gains."
    The Toronto Stock Exchange's S&P/TSX composite index
 closed up 84.78 points, or 0.55 percent, at 15,561.95.
Nine of the 10 main sectors on the index were higher.
    The industrial sector advanced 1.1 percent, with Canadian
Pacific Railway Ltd rising 1.7 percent to C$219.84 and
Canadian National Railway Co adding 1.6 percent to
    Shares of energy producers climbed with the oil price.
Suncor Energy Inc gained 1 percent to C$43.66, and
Canadian Natural Resources Ltd rose 0.6 percent to
    Financials, the index's most heavily weighted sector,
climbed 0.4 percent, with Toronto Dominion Bank up 0.6
percent, at C$57.55.

 (Editing by Meredith Mazzilli)