(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 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
"You do have to take a bit of a pause and that is healthy
for the market," Teich added.
One of the most influential movers on the index was Suncor
Energy Inc, which rose 0.7 percent to C$34.50, while the
overall energy group firmed 0.2 percent.
U.S. crude oil futures settled up 27 cents at $43.30
a barrel after Venezuela's president said that OPEC members and
other major oil producers could agree to a deal to freeze
output, and as clashes in Libya disrupted attempts to restart
crude exports from key ports.
Financials rose 0.3 percent, led by a 0.9 percent advance in
the shares of Manulife Financial Corp to C$18.19, while
Brookfield Asset Management Inc was up 0.7 percent at
The Toronto Stock Exchange's S&P/TSX composite index
closed up 45.54 points, or 0.32 percent, at 14,496.23.
The index touched its highest intraday level since Sept. 12 at
Stronger domestic growth and higher oil prices would help
the index move another leg higher, Teich said.
All of the index's 10 main groups ended higher.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.6 percent, with
gold-focused royalty and stream company Franco Nevada Corp
rising 1.2 percent to C$93.86.
Spot gold firmed 0.2 percent.
Industrials edged 0.1 percent higher, helped by a 1.9
percent gain for waste management company Waste Connections Inc
All issues are on the table in negotiations with General
Motors Co, the head of its main Canadian autoworkers
union said, as the union pushed to secure new investment as part
of a labor contract ahead of a midnight strike deadline.
(Additional reporting by Alastair Sharp; Editing by Bill Trott
and Peter Cooney)