(Adds investor comment, updates prices to close)
* TSX ends up 38.14 points, or 0.25 percent, at 15,544.82
* Eight of its 10 main groups moved higher
By Alastair Sharp
TORONTO, March 13 Canada's main stock index rose
on Monday as financial stocks pushed higher with bond yields
ahead of an expected U.S. Federal Reserve rate hike and as some
mining stocks gained from higher commodity prices.
Toronto-Dominion Bank was among the most influential
gainers, recovering somewhat after a sharp fall on Friday
following media reports that staff had been put under pressure
to meet sales targets.
TD defended its business practices on Friday and on Sunday
reiterated its position that the environment described in CBC
news reports, which suggested that customers were moved to
higher-fee accounts or had their overdraft and credit card
limits increased without their knowledge, was at odds with its
TD rose 1.5 percent to C$66.96 after falling 5.6 percent on
Friday, and most other major banks also gained, helping the
financials group add 0.4 percent overall.
Financial technology company DH Corp rose 9.2
percent to C$25.16, after Vista Equity Partners said it would
take the company private in a C$4.8 billion deal.
The Toronto Stock Exchange's S&P/TSX composite index
closed up 38.14 points, or 0.25 percent, at 15,544.82.
Eight of its 10 main groups gained.
Rick Hutcheon, president and chief operating officer at RKH
Investments, said he saw little reason for the index to push
back up toward the record high touched in February.
"The rally that we've had is petering out. It's not that
it's going to come crashing down but it needs some time to
consolidate and get used to the level we're at," he said.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.5 percent.
Base metal miner Teck Resources Ltd advanced 2.7
percent to C$27.52 as copper and other industrial metal prices
rose with a strike at Peru's top copper mine adding to supply
disruptions caused by a month-long stoppage at mines in Chile
Gold miners were mostly higher as bullion steadied, caught
between political uncertainty in Europe and the prospect of U.S.
rate rises later this week.
The energy group inched 0.1 percent higher as oil hovered
around three-month lows.
(Reporting by Alastair Sharp; Editing by Andrea Ricci, Toni