* TSX up 56.03 points, or 0.4 percent, at 14,105.23
* Eight of the TSX's 10 main groups higher
(Updates prices)
TORONTO, May 27 (Reuters) - Canada's main stock index
climbed on Friday, helped by strength in the financial services
sector and energy companies, with investors focusing on monetary
policy commentary from U.S. central bank chief Janet Yellen.
Yellen said in a speech that the Federal Reserve should
raise interest rates "in the coming months" if the economy picks
up as expected and jobs continue to be generated, boosting the
case for a rate increase in June or July.
Financial stocks were among the most influential movers on
the index after banks on Thursday reported better-than-expected
second-quarter earnings even as they warned of further losses
from oil loans in coming quarters.
Toronto-Dominion Bank TD.TO rose 0.4 percent to C$57.67,
and Brookfield Asset Management Inc BAMa.TO advanced 2.6
percent to C$46.54, while the overall financials group was up
0.6 percent.
Shares of Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO
rose 6.3 percent to C$37.08. The drugmaker received a joint
takeover offer from Japan's Takeda Pharmaceutical Co Ltd
4502.T and TPG Capital Management LP TPG.UL this spring that
it rejected, according to a source familiar with the matter.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed up 56.03 points, or 0.4 percent, at 14,105.23.
Eight of the 10 main sectors on the index were higher.
The consumer discretionary sector advanced 1.4 percent, and
the information technology group added 1.6 percent.
However, the materials sector, which includes precious and
base metals miners and fertilizer companies, was dragged lower
by weaker commodity prices. The group lost 1.4 percent. Spot
gold XAU= fell 2.4 percent.