TSX Rallies Late Despite Struggling Banks -- Canadian Commentary

(RTTNews) - Canadian stocks turned in a lackluster performance Wednesday despite rebounding oil prices and easing fears related to the UK's Brexit.

Markets in the U.S. rallied into positive territory, and Bay Street only followed suit in the final moments of the session amid lingering weakness among big banks.

The S&P/TSX Composite Index was up 11.49 points, or 0.08 percent, to 14,231.06.

Energy stocks were flat despite higher crude oil prices.

August WTI oil settled at $47.43/bbl on Nymex, up 83 cents, or 1.8%.

Rising gold stocks provided a measure of support.

August gold settled at $1,367.10/oz, up $8.40, or 0.6% -- the highest since March 2014. ' September silver was up 29.6 cents, or 1.5%, to settle at $20.203/oz.

Centerra Gold Inc (CG.TO) said that it agreed to acquire Thompson Creek Metals Company Inc. (TCM.TO) for $1.1 billion. Centerra shares fell 7.5 percent.

Torstar Corporation (TS.B.TO) CEO David Holland is reportedly set to step aside. Shares dropped 4.8 percent.