CANADA STOCKS-TSX rises to a 4-month high as oil rally boosts energy, financials

Thu Mar 17, 2016 5:19pm EDT
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(Adds portfolio manager quotes, details on the index's performance, industrials, Barrick Gold, updates prices)

* TSX up 143.17 points, or 1.06 percent, at 13,621.3

* The index touched its highest since Nov. 4 at 13,685.45

* Eight of the TSX's 10 main groups rise

By Fergal Smith

TORONTO, March 17 (Reuters) - Canada's main stock index rose to a four-month high on Thursday as higher oil prices supported energy stocks, while the financial and industrial sectors also gained.

The move followed the U.S. Federal Reserve's scaling back of its expectation of how many rate hikes it could implement this year, which weighed on the U.S. currency and boosted risk appetite.

The index closed above its 200-day moving average and has rebounded 18 percent since hitting an almost 3-1/2-year low in January, supported by a recovery in crude oil prices and stabilization in global financial markets.

"It's quite significant from a technical point of view," said Elvis Picardo, strategist at Global Securities in Vancouver.   Continued...