(Adds details, updates prices)
* TSX up 81.9 points, or 0.63 percent, to 13,001.47
* Eight of the TSX's 10 main groups rise
TORONTO, Dec 16 (Reuters) - Canada's main stock index rose
on Wednesday as a bump higher in commodity prices boosted mining
stocks and investors braced for an expected U.S. interest rate
hike from the Federal Reserve.
The overall materials group, which includes gold and base
metal miners, fertilizer stocks and others, climbed 2.4 percent.
Valeant Pharmaceuticals International Inc (N:VRX) VRX.TO added to
its surge on Tuesday, up 4.6 percent to C$156.61 after
projecting 30 percent profit growth in 2016.
At 10:36 a.m. EST (1536 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 81.9 points, or 0.63
percent, to 13,001.47, with eight of the index's 10 main groups
in positive territory.
The index on Monday hit its lowest since August 2013.
The country's two main railway stocks gained, pushing the
industrials group up 1 percent.
Canadian Pacific Railway CP.TO rose 1.5 percent to
C$174.25 and Canadian National Railway CNR.TO advanced 0.2
percent to C$74.98.
Golf miner Barrick Gold Corp ABX.TO added 5.6 percent to
C$10.32 and rival Goldcorp Inc G.TO advanced 3.7 percent to
C$15.8, as gold futures GCc1 rose 1.2 percent to $1,075.8 an
ounce. GOL/ Copper prices CMCU3 advanced 0.9 percent to
$4,607 a tonne. MET/L
The most influential weights on Wednesday included Canadian
Natural Resources CNQ.TO , which fell 2.7 percent to C$28.87,
and Encana Corp ECA.TO , which lost 3.4 percent to C$7.31.
The energy group retreated 1.2 percent, as oil CLc1
LCOc1 fell on fresh evidence of growing global oversupply.
O/R
One of Canada's 10 largest pension fund managers said on
Tuesday that beaten-down oil and gas assets were attractive for
long-term investors, echoing sentiments expressed by peers.
The Fed will announce the outcome of its policy meeting at 2
p.m. ET (1900 GMT), followed by a press conference by Chair
Janet Yellen at 2:30 p.m.