* TSX up 71.21 points, or 0.47 percent, at 15,169.05
* All of the TSX’s key sectors rose
TORONTO, Aug 16 (Reuters) - Canada’s main stock index rose on Wednesday as the heavily weighted bank stocks led broad gains and firmer commodity prices bumped resource issues higher.
The gains mirrored global markets which rose on economic data that showed forecast-beating growth, and U.S. stocks which rose ahead of the release of the Federal Reserve’s latest policy meeting minutes.
In Canada, talks with the United States and Mexico on modernizing the North American Free Trade Agreement commenced.
Manulife Financial Corp was among the most influential gainers, rising 1.0 percent to C$25.40. Canada’s top banks saw moderate gains under 1 percent, but were the index’s biggest drivers on the positive side. Financial stocks, which account for about a third of the index’s weight, gained 0.4 percent.
At 10:31 a.m. ET (1431 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 71.21 points, or 0.47 percent, to 15,169.05.
All of the index’s key sectors were in positive territory.
Base-metal miner Teck Resources Ltd was up 2.3 percent to C$28.98 while First Quantum Minerals Ltd rose 4.7 percent to C$12.8. HudBay Minerals Inc jumped 8.4 percent to C$9.96.
The overall materials group, which includes base metals mining companies, added 1.1 percent as the price of zinc rose to its highest in almost a decade on construction spending in China, and copper and nickel prices also traded higher.
Energy stocks climbed 0.8 percent, with Crescent Point Energy Corp up 2.9 percent to C$8.90. Oil prices eked out modest gains as data showed a bigger-than-expected draw in U.S. crude inventories. U.S. crude prices were up 0.5 percent to $47.8 a barrel.
Details of the Fed’s July policy meeting due to be published at 1400 EDT (1800 GMT) could offer insights into the central bank’s policy outlook and clues on the timing of the next interest rate hike.
Advancing issues outnumbered declining ones on the TSX by 183 to 59, for a 3.10-to-1 ratio on the upside. (Reporting by Solarina Ho; Editing by Chizu Nomiyama)
Our Standards: The Thomson Reuters Trust Principles.