CANADA STOCKS-TSX rises, led by banking, energy stocks as oil rallies

Wed Jan 27, 2016 5:09pm EST
 
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(Adds analyst quotes, details on Federal Reserve, Bombardier, updates prices)

* TSX up 46.45 points, or 0.38 percent, at 12,377.77

* Half of the TSX's 10 main groups move higher

* Bombardier fell below C$1 for the first time since 1991

By Fergal Smith

TORONTO, Jan 27 (Reuters) - Canada's main stock index rallied on Wednesday as strength in crude oil prices supported energy and banking stocks, although paring gains after the U.S. Federal Reserve interest rate decision.

The index extended its recovery from a recent three-year low, touching its highest level since Jan. 8 at 12,524.13.

It is still reflecting "the positive price action out of the oil commodity," said Sid Mokhtari, market technician and director, institutional equity research at CIBC World Markets.

U.S. crude prices settled at $32.30 a barrel, up 2.7 percent after Russia said it was discussing the possibility of co-operation with the Organization of the Petroleum Exporting Countries.   Continued...