CANADA STOCKS-Oil-share bounce helps TSX edge higher ahead of Fed

Tue Mar 17, 2015 4:51pm EDT
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* TSX up 35.77 points, or 0.24 percent, at 14,898.53

* Five of the 10 main index sectors advance

* Bombardier steady after news of possible order

By John Tilak

TORONTO, March 17 (Reuters) - Canada's main stock index rose slightly on Tuesday, lifted by a small bounce-back in oil producers, as investors anxiously awaited a U.S. Federal Reserve statement on its policy outlook.

After being beaten down for months, energy shares rose, shrugging off rising crude inventories that renewed worries about a global supply glut and sent the price of U.S. crude to a six-year low on Tuesday.

Market focus was on a two-day Federal Open Market Committee meeting as investors hoped that a Fed statement on Wednesday would provide clarification on when it might start raising interest rates.

"The market is a little undecided. You can see that the market is really split on what's going to happen tomorrow," said Marcus Xu, portfolio manager and president at M.Y. Capital Management Corp in Vancouver.

"The market will swing back and forth until there is clarity from the Fed," he added.   Continued...