CANADA STOCKS-TSX rises, led by financials and resource stocks

Mon Sep 19, 2016 5:21pm EDT
 
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(Adds portfolio manager quotes, details on Brookfield Asset Management, Franco Nevada and Waste Connections, updates prices)

* TSX closes up 45.54 points, or 0.32 percent, at 14,496.23

* Index touches a one-week high intraday

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

By Fergal Smith

TORONTO, Sept 19 (Reuters) - Canada's main stock index rose on Monday, led by financials and resource stocks as commodity prices climbed and investors bet that the Federal Reserve would hold U.S. interest rates steady later this week.

Gains for the Toronto Stock Exchange's S&P/TSX composite index followed a 0.6 percent loss last week, which was its fourth negative week in five after having rebounded more than 25 percent from a three-year low in January.

The loss of momentum for the index is due to uncertainty around what the Fed will do and recent weakness in commodity prices, said Bryden Teich, portfolio manager at Avenue Investment Management.

"You do have to take a bit of a pause and that is healthy for the market," Teich added.   Continued...