CANADA STOCKS-Financials lead TSX to 1-month high on German data
* TSX rises 53.86 points, or 0.44 percent, to 12,284.33 * Index hits highest level since Nov. 7 * Nine of 10 main sectors make gains By John Tilak TORONTO, Dec 11 (Reuters) - Toronto's main stock index hit a one-month high on Tuesday, led by financial and energy stocks, with investors encouraged by positive German economic data. German analyst and investor morale improved sharply in December, fueling hopes that Europe's largest economy will avoid recession this winter. "It shows that there is some prospect that the European economy may be starting to gain a little bit of traction. It's better than the numbers we've been seeing," said Rick Hutcheon, president and chief operating officer at RKH Investments. Hutcheon said Canadian economic data was also encouraging. A Statistics Canada report showed the country's trade deficit unexpectedly shrank in October, as imports fell to a 15-month low while exports increased. At midmorning, the Toronto Stock Exchange's S&P/TSX composite index was up 53.86 points, or 0.44 percent, at 12,284.33. Earlier in the session the index hit 12,298.86, its highest point since Nov. 7. Nine of the 10 main sectors on the index were trading higher. The financial sector, the index's biggest, rose 0.5 percent, playing the biggest role of any single sector in leading the market higher. Royal Bank of Canada gained 0.6 percent to C$58.83, Bank of Nova Scotia was up 0.6 percent at C$56.28 and Toronto Dominion Bank added 0.4 percent to C$80.53. The energy sector climbed 0.5 percent, helped by higher oil prices. Canadian Natural Resources Ltd rose 0.8 percent to C$28.25. In other news, patent licensing company Wi-LAN Inc said it filed a lawsuit against Research In Motion Ltd for infringing on a patent related to bluetooth technology. Wi-LAN shares rose 2 percent to C$4.99.
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