(Updates throughout with market reaction, background, details)
* TSX up 40.27 points, or 0.29 percent, to 14,018.93
* Seven of the TSX's 10 main groups were higher
By Solarina Ho
TORONTO, Oct 9 (Reuters) - Canada's main stock index rose on
Friday, gunning for its sixth straight winning session as
investors embraced more risk after minutes from the U.S. Federal
Reserve's September meeting showed it was in no hurry to hike
interest rates.
The heavily weighted Valeant Pharmaceuticals (NYSE:VRX) International
Inc VRX.TO provided the biggest boost to the index, jumping
3.6 percent to C$230.97, while the overall healthcare group
rallied 2.6 percent.
The dovish Fed minutes helped gold prices soar to three-week
highs, prompting shares of gold miners to follow the commodity's
rise. Goldcorp Inc G.TO lead the charge, rising 3.5 percent to
C$18.29, while Barrick Gold Corp ABX.TO rallied 4.8 percent to
C$9.78. ID:nL1N1290PR
Gold futures GCc1 rose 1.0 percent to $1,156.6 an ounce.
The materials group .GSPTTMT , where miners and other
resource names reside, jumped 2.2 percent. GOL/
At 11:05 a.m. EDT (1505 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 40.27 points, or 0.29
percent, to 14,018.93.
Of the index's 10 main groups, seven were in positive
territory. Advancing issues outnumbered decliners by 139 to 99
for a 1.40-to-1 ratio.
Overall trading was choppy, and briefly turned negative as
energy and financial stocks tempered the broader gains.
Oil and gas shares shadowed seesawing crude oil prices,
which at one point had their biggest rise in more than six
years. The commodity was pinched by profit-taking, however, with
investors closing positions ahead of the weekend.
TransCanada Corp TRP.TO was the biggest drag on the
downside, sliding 1.4 percent to C$45.22, while Encana Corp
ECA.TO retreated 2.9 percent to C$11.42. Energy stocks eased
0.2 percent.
U.S. crude CLc1 was up 0.9 percent to $49.89 a barrel,
while Brent LCOc1 lost 0.2 percent to $52.95. O/R
Toronto-Dominion Bank TD.TO lead the financials retreat,
dipping 0.4 percent to C$53.32, while the overall sector was off
0.4 percent.
(Editing by Jeffrey Benkoe)