CANADA STOCKS-TSX advances as U.S. data drives broad gains

Tue Nov 25, 2014 10:46am EST
 
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* TSX up 65.69 points, or 0.44 percent, at 15,081.10

* Nine of the 10 main index sectors advance

* Energy shares rise with oil price (Adds comment, details, updates prices)

By John Tilak

TORONTO, Nov 25 (Reuters) - Canada's main stock index shot higher on Tuesday as strong U.S. economic growth data drove gains in most of its major sectors.

U.S. growth was stronger than initially thought in the third quarter, data released on Tuesday showed, due to upward revisions to business- and consumer-spending figures.

The Toronto stock market's benchmark TSX index has been gaining steadily since a slump in October, but has yet to reach the record levels it hit in September.

"We're still marching forward. There's lots of scope for the market to continue to rise," said David Cockfield, managing director and portfolio manager at Northland Wealth Management.

"The numbers continue to be pretty good," he added. "The United States is an island of growth in an otherwise pretty boring world. If the U.S. economy is ticking over, Canada is going to do just fine."   Continued...