* TSX ends up 17.36 points, or 0.12 percent, at 14,366.46
* Eight of the TSX's 10 main groups rise; energy, financials
By Alastair Sharp and Fergal Smith
TORONTO, Sept 14 Canada's main stock index made
a small gain on Wednesday as losses for energy stocks on a
renewed fall in oil prices offset gains for base metal miners
and consumer stocks.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 17.36 points, or 0.12 percent, at 14,366.46.
Eight of the index's 10 main groups rose, with the energy
group retreating 0.7 percent. Oil fell about 3
percent for a second straight session amid concerns that
rebalancing the global oil market will take longer than
The financial sector also moved slightly lower, as investors
took a cautious view on global economic prospects as central
banks struggle to stimulate growth, triggering a rise in bond
yields and sparking a bout of risk-off trading.
"We now seem to be getting to a phase where some risk
factors are weighing on investors' minds," said Elvis Picardo, a
strategist at Global Securities, citing a recent jump in bond
yields, the November U.S. presidential election and the Federal
reserve's on-again, off-again U.S. rate-hike signals.
"I think the correction has more room to run," he added.
"All in all I think the scenario doesn't look especially rosy
for the TSX."
Teck Resources Ltd jumped 7.1 percent to C$22.77.
CIBC raised its price target on the diversified miner's stock to
C$28 from C$23.
Shares in convenience store operator Alimentation Couche
Tard Inc gained 1.7 percent to C$64.06.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.5 percent, while the
smaller consumer staples group rose 0.9 percent and consumer
discretionary names gained 0.3 percent.
The most influential weights included Cenovus Energy Inc
, which fell 1.9 percent to C$17.77, and Encana Corp
, which lost 1.7 percent to C$12.43.
The U.S. economy looks set to accelerate over the rest of
the year, a senior Bank of Canada official said on Wednesday, a
potentially encouraging sign for Canada just a week after the
central bank warned of risks to domestic growth.
International Monetary Fund Managing Director Christine
Lagarde on Tuesday praised Canada's three-pronged approach of
taking monetary, fiscal and structural action to avert the risk
of recession as an example to which others could aspire.
(Editing by Lisa Von Ahn and James Dalgleish)