CANADA STOCKS-TSX rises amid broad-based gains; ends week 1.2 percent higher

Fri May 20, 2016 5:04pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds portfolio manager quotes, details on banks, energy stocks and wildfire, updates prices)

* TSX closes up 102.26 points, or 0.74 percent, at 13,919.58

* All of the index's 10 main groups end higher

* Index rose 1.2 percent for the week

By Fergal Smith

TORONTO, May 20 (Reuters) - Canada's main stock index rose on Friday as financials and energy led broad-based gains, helped by a global rally in stocks as the negative impact of Federal Reserve rate hike speculation faded.

The index rose 1.2 percent for the week, while it has rebounded more than 20 percent from an almost 3-1/2-year low in January. Still it has yet to climb back above the 14,000 threshold.

A relief rally globally gave Canada's market a lift after stocks were pressured by hawkish Fed minutes earlier this week, said Matt Skipp, president of SW8 Asset Management.

Wall Street also closed higher, while major indices in Europe and Asia climbed.   Continued...