(Adds portfolio manager quote and details on U.S. retail sales,
TransCanada, Suncor and Royal Bank of Canada, updates prices)
* TSX ends up 137.21 points, or 0.96 percent, at 14,503.67
* All 10 of the TSX's main groups gain
By Fergal Smith
TORONTO, Sept 15 Canada's main stock index
scored its biggest gain in two months on Thursday, led by shares
of financial and energy stocks as oil rose and investors reduced
bets on a Federal Reserve interest rate hike.
Weak U.S. retail sales data undermined the argument that the
Fed, the U.S. central bank, will raise interest rates next week,
helping to send global equity prices higher.
Still, the U.S. economic outlook remains positive.
"Fundamentally I think the U.S. is in good shape and I think
that the markets have been telling you this," said John Kinsey,
portfolio manager at Caldwell Securities.
Some of the most influential movers on the index were
Toronto-Dominion Bank advanced nearly 1 percent to
C$57.55 after selling home improvement financing assets with a
book value of about C$339 million.
Royal Bank of Canada rose 1.6 percent to C$81.36 and
Manulife Financial Corp gained 2.3 percent to C$18.17,
while the overall financials group was up 1.3 percent.
The Toronto Stock Exchange's S&P/TSX composite index
closed up 137.21 points at 14,503.67. Its 0.96 percent
gain was the largest since July 4.
The index had lost around 3 percent of its value since last
Thursday's close as global bond yields rose.
All 10 of the index's main groups ended higher on Thursday.
The energy group rose 0.9 percent, helped by higher oil
TransCanada Corp rose 0.8 percent to C$61.49 and
Suncor Energy Inc advanced 0.6 percent to C$34.45.
U.S. crude oil futures settled up 33 cents at $43.91
Industrials rose 0.9 percent, with SNC Lavalin
advancing 3.2 percent to C$54.50 after CIBC raised the company's
rating to "outperformer" and upped its price target on the
The materials group, which includes precious and base metals
miners and fertilizer companies, rose 0.7 percent.
Teck Resources Ltd advanced 5.3 percent to
C$23.98, while Barrick Gold Corp was up 2.6 percent at
C$23.24 despite a two-week low for gold.
Data showed Canadian household debt as a share of income hit
a record high in the second quarter in a report likely to
reinforce concerns of overborrowing by consumers.
Sales of existing Canadian homes fell 3.1 percent in August
from July, the fourth straight monthly decline and the largest
drop in nearly two years.
(Additional reporting by Alastair Sharp; Editing by Meredith
Mazzilli and James Dalgleish)