(Adds strategist comment, updates prices to close)
* TSX ends up 30.60 points, or 0.22 percent, at 13,875.33
* Seven of its 10 main groups fall
By Alastair Sharp
TORONTO, Oct 14 (Reuters) - Canada's main stock index gained
on Wednesday as rising gold miners and energy companies offset
declines in most other sectors, including the hefty financials
groups.
The price of bullion XAU= hit its highest since late June
and the U.S. dollar .DXY sank as more signs of slowing growth
in the United States and China raised doubts the Federal Reserve
will raise U.S. interest rates later this year.
The materials group jumped 3.9 percent and energy stocks
rose 1.2 percent, despite oil prices CLc1 LCOc1 settling
down slightly.
"You're looking at a commodity-based rally which is
primarily on U.S. dollar weakness," said Sid Mokhtari, a market
technician and director of institutional equity research at CIBC
World Markets.
"It's reasonable to assume pressure on the U.S. dollar can
persist until we get a better message out of the U.S. Fed on
their intentions for policy."
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended up 30.60 points, or 0.22 percent, at 13,875.33.
But seven of its 10 main sectors fell, with five declining
stocks for every four advancers.
Mokhtari said that energy could rise further which, coupled
with stability in bank and consumer-related stocks, could push
the index up to between 14,300 and 14,500 in coming months.
The materials and energy groups were joined by healthcare
stocks, led by a 5.6 percent gain for heavyweight Valeant
Pharmaceuticals International Inc VRX.TO , to C$229.08.
The most influential movers on the index included Goldcorp
Inc G.TO , which surged 8.8 percent to C$20.06, and Barrick
Gold Corp ABX.TO , which advanced 8.9 percent to C$10.56.
Suncor Energy Inc SU.TO added 1.4 percent to C$37.01, and
Canadian Natural Resources CNQ.TO advancing 1.8 percent to
C$31.03.