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TSX Ends Higher In Cautious Trading - Canadian Commentary

The Toronto Stock Exchange's benchmark index closed higher for a third straight session on Friday amid cautious trading ahead of Sunday's referendum in Greece.

Greek Prime Minister Alexis Tsipras again asked his country to say no to austerity in the referendum and said that an assessment by the International Monetary Fund justified the government's position.

In a televised address on Friday, Tsipras said Greeks must "say no to ultimatums and division" and to vote in the July 5 referendum with a cool head.

He also reiterated that a 'no' in the referendum does not mean Greece's exit from the euro and the European Union.

The S&P/TSX composite index closed up 44.40, or 0.30%, at 14,682.39. U.S. markets were closed for the Independence Day holiday.

Light, sweet crude for August delivery fell $1.43, or 2.53%, to $55.50 a barrel in electronics trading on the New York Mercantile Exchange.

The August gold contract rose $4.30 to US$1,167.80 an ounce.

Banking stocks were among the gainers. Toronto-Dominion Bank (TD.TO) surged 0.92%, while Bank of Nova Scotia (BNS.TO) climbed 1.29% and Royal Bank of Canada (RY.TO) rose 0.66%.

Shares of gold producers advanced after gold prices. Goldcorp Inc. (G.TO) surged 1.48%, while Eldorado Gold Corp. (ELD.TO) climbed 1.95% and Kinross Gold Corp. (K.TO) rose 0.70%.

Energy stocks pulled back after crude oil prices fell. RMP Energy Inc. (RMP.TO) fell 3.04%, while Cenovus Energy Inc. (CVE.TO) slipped 1.17% and Surge Energy Inc. (SGY.TO) declined 1.14%.

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