CANADA STOCKS-TSX rises with financial, mining shares
* TSX up 33.88 points, or 0.23 percent, at 14,823.66 * Six of 10 main index sectors advance * Mining shares climb with commodity prices By John Tilak TORONTO, Oct 6 (Reuters) - Canada's main stock index advanced on Monday, driven by gains in the financial and mining sectors, as the market rebounded from a decline in the previous week. The U.S. dollar's weakness helped put some life into sagging equity markets, which have been battered in recent weeks over concerns about geopolitics and the U.S. Federal Reserve's monetary policy. The benchmark TSX, which has recorded declines in each of the past five weeks, began a recovery on Friday after a positive U.S. jobs report eased some worries about the ongoing economic recovery. "The market is chugging along. I'm looking to see if we we'll hold at this level," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. "I'm still on the fence. There's no incentive to rush out to buy," he added. Cockfield said the outlook for Canadian equities was still bullish over the long term. The Toronto Stock Exchange's S&P/TSX composite index was up 33.88 points, or 0.23 percent, at 14,823.66. Six of the 10 main sectors on the index were higher. Financials, the index's most heavily weighted sector, added 0.7 percent, with Royal Bank of Canada climbing 0.8 percent to C$80.69 and Toronto Dominion Bank gaining 0.7 percent to C$54.51. The materials sector, which includes mining stocks, benefited from strength in commodity prices. First Quantum Minerals Ltd advanced 0.8 percent to C$21.02, and Goldcorp Inc firmed 0.3 percent to C$25.54. Air Canada jumped 4.8 percent, to C$8.26, after reaching a tentative agreement with its pilots' union on a new 10-year contract a year and a half ahead of the expiry of the current contract. (Editing by Meredith Mazzilli)
© Thomson Reuters 2017 All rights reserved.